E-commerce business is flourishing at a great speed in India. Most of the e-commerce entrepreneurs are concentrating upon commercial aspects with an eye upon profit motive. In this race they are ignoring techno legal requirements that may affect their rights in the long run.
For instance, e-commerce laws in India are spread across multiple legal frameworks and they are seldom followed by Indian e-commerce stakeholders. Even foreign e-commerce players and portals are required to be registered in India and comply with Indian laws.
Similarly, e-commerce players are required to comply with cyber law and cyber security regulatory compliances in India. A dedicated law for cyber security breaches disclosures is also in pipeline that would impose stringent obligations upon e-commerce players operating in India. Companies that would fail to comply with the cyber law due diligence requirements in India may be punished according to Indian laws.
The cyber security challenges for Indian companies are very difficult to manage in the absence of proper planning and management. Directors of Indian companies and e-commerce websites can be held liable for improper cyber security dealings in India.