How government can simplify standards to make e-commerce thrive
The policies governing FDI in the country have been complex, overlapping, and have many end points in terms of the involvement of multiple government departments and agencies, making it difficult for various entities to function and prosper.
Therefore, the government should come up with simpler policies on general standards for foreign companies or to receive foreign direct investment (FDI) in India, and not micro-manage e-commerce on various aspects, according to a new report from the Bharti Institute. of public policy.
âThe simplification of standards for doing business in the retail and e-commerce sector should be formed by a single ministry in consultation with other relevant government and non-government agencies,â the report said.
In addition, many experts believe that trade standards should also be articulated in a timely and clear manner to avoid interpretation issues, especially foreign entities.
âA customer-centric e-commerce area requires FDI for the growth and capacity building of small retailers to ensure their smooth transition online, as well as alternative platforms for government to adopt for growth. sustainable and comprehensive e-commerce, âsaid Avik Sarkar, Associate Professor, Bharti Institute of Public Policy.
In fact, to integrate small retailers and sellers with online channels and help them transform their businesses into digital formats, the government can design open source software for operational digitization and provide financial aid or low rate loans. interest in small businesses for such a transition.
âIt is also important that policymakers explore other e-commerce platforms, which can ensure fair trade and competition and benefit both small sellers and end customers,â Sarkar added.