{"id":34348,"date":"2018-10-30T17:08:27","date_gmt":"2018-10-30T11:38:27","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=34348"},"modified":"2018-10-30T17:08:27","modified_gmt":"2018-10-30T11:38:27","slug":"centre-to-aid-offshore-e-commerce-play","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/centre-to-aid-offshore-e-commerce-play\/","title":{"rendered":"Centre to aid offshore e-commerce play:"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/business\/Industry\/centre-to-aid-offshore-e-commerce-play\/article19920208.ece\/amp\/\"><span style=\"font-weight: 400;\">Centre to aid offshore e-commerce play<\/span><\/a><span style=\"font-weight: 400;\">: <\/span><\/p>\n<p><b>Context<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Centre plans to expand the footprint of the Indian e-commerce sector to tap potential markets outside the country, including Africa and Southeast Asia.<\/span><\/li>\n<\/ul>\n<p><b>What is the significance of expanding the ecommerce industry?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Among several factors, a conscious patronization of online commerce, and an emergence of retail as a dominant market segment have contributed to the unprecedented growth of ecommerce in India. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> The digital economy in the country is f<\/span><b>orecast to generate employment <\/b><span style=\"font-weight: 400;\">for about 30 million people by 2024-25, \u201cwhich is double than the current scenario\u201d.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The policy is aimed to achieve the target of <\/span><b>making India a trillion-dollar digital econom<\/b><span style=\"font-weight: 400;\">y in the next seven years<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">With increasing demand for online purchasing, more and more businesses are moving to e-store from brick and mortar stores.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">With the boom in internet usage and its convenience, ecommerce has a lot of potential to capture markets both domestic and overseas.<\/span><\/li>\n<\/ul>\n<p><b>What are the factors catalyzing the ecommerce industry in India?<\/b><\/p>\n<p><strong>The three principal driving factors that seem to have contributed \u00a0to this growth in ecommerce sector of India are:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Participation of niche companies in online trading<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Unmatched FDI (foreign direct investment)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Uniform GST (Goods and Services Tax)<\/span><\/li>\n<\/ul>\n<p><strong>What are the two aspects for the expansion of e-commerce industry?<\/strong><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">There will be two aspects to it \u2014 one will focus on expansion within India, and the other on global expansion.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><b>The government is to tap overseas markets in the Southeast Asia, West Asia, SAARC and BRICS nations <\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The e-commerce economy is currently pegged at $30 billion, and the government expects it to grow at $150 billion by 2024-25.<\/span><\/li>\n<\/ul>\n<p><b>What are the other initiatives taken by the government?<\/b><\/p>\n<p><span style=\"font-weight: 400;\">The government is also working on a strategy to make India a hub for<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Data analytics<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Cloud computing<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Financial technology<\/span><\/li>\n<\/ul>\n<p><b>What are the challenges to the expansion of the ecommerce industry?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Shipping costs and tracking visibility<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Clarity in cross-border fees (Import duties and taxes)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Reasonable product delivery times<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Data security.<\/span><\/li>\n<\/ul>\n<p><b>How is the government working on the data protection draft bill?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The Data Protection Act, the draft of which is likely to be ready by December 2017, will provide a policy framework on digital economy, including social media.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The government will also ready a security framework for mobile devices and the mobile application ecosystem by March 2018.<\/span><\/li>\n<\/ul>\n<p><b> What is Data Protection under the Indian legal system?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The I<\/span><b>ndian constitution has provided the right to privacy under the scope of Article 21<\/b><span style=\"font-weight: 400;\">. Its interpretation is found insufficient to provide adequate protection to the data.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In the year 2000, effort has been made by our legislature to embrace privacy issues relating to computer system under the purview of IT Act, 2000.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This Act contains certain provisions which provide protection of stored data. In the year 2006, our legislature has also introduced a bill known as \u2018The Personal Data Protection Bill\u2019 so as to provide protection to the personal information of the person.<\/span><\/li>\n<\/ul>\n<p><b>What is the significance of data protection bill?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In the year 2006, our legislature has introduced a bill known as \u2018The Personal Data Protection Bill\u2019 to provide protection to the personal information of the person.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The bill applies both to government as well as private enterprises engaged in data functions.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Privacy has become an intensely discussed and debated topic, in this new era of digital age<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In order to remove obstacles from cross-border flow of data, the privacy of people and freedom should be maintained at all levels by processing the data equivalent in all participating states<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The<\/span><b> new \u00a0Data Protection Act, the draft of which is likely to be ready by December 2017,<\/b><span style=\"font-weight: 400;\"> will provide a policy framework on digital economy, including social media. The government will also ready a security framework for mobile devices and the mobile application ecosystem by March 2018<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Centre to aid offshore e-commerce play: Context Centre plans to expand the footprint of the Indian e-commerce sector to tap potential markets outside the country, including Africa and Southeast Asia. What is the significance of expanding the ecommerce industry? Among several factors, a conscious patronization of online commerce, and an emergence of retail as a&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/centre-to-aid-offshore-e-commerce-play\/\">Continue reading <span class=\"screen-reader-text\">Centre to aid offshore e-commerce play:<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-34348","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704624928},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34348","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=34348"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34348\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=34348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=34348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=34348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}