E-commerce
in India is a totally different class. It has all the
advantages of profit making and commercial viability but is neither
regulated by any dedicated e-commerce law nor is it contributing
towards the economic and social growth of India.
Legal provisions pertaining to foreign direct
investment (FDI), foreign exchange management act (FEMA), national
taxation laws, cyber
law due diligence (PDF), cyber
security due diligence, e-commerce
due diligence, etc are openly ignored in India. In some
instance, enforcement directorate (ED) has also initiated
investigation against big e-commerce players like Myntra,
Flipkart
and many more e-commerce websites operating in India. Many
stakeholders have also protested
against the unfair trade practices and predatory
pricing tactics of Indian e-commerce websites.
The matter has reached to the level of Indian
government that has also promised to look into the matter and draft
suitable e-commerce law of India, if required. The alternative
approach that can be adopted by Indian government is to amend the
Information Technology Act, 2000 (IT Act 2000) to accommodate
e-commerce related issues.
We at Perry4Law
believe that a dedicated e-commerce law of India is urgently required
and Indian websites must be suitably
regulated. Indian government must also formulate a techno
legal framework to take care of complicated technology
related legal issues in India. Amending the IT Act 2000 to
accommodate e-commerce related issues is not a very good option in
this regard and must be the last choice.
