The Centre will come out with a national e-commerce policy within 12 months to facilitate holistic growth of the sector, an official said.
“We will put in place an institutional framework to bring out a national policy on e-commerce within next 12 months,” the official said. The government in February released the draft national e-commerce policy proposing setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
Several foreign e-commerce firms have raised concerns over some points in the draft pertaining to data.
An inter-ministerial panel under DPIIT would be formed to address stakeholder grievances on FDI and draft e-commerce policy.
Goyal also said in the meeting that the Press Note 2, which talks about FDI in e-commerce, is clarificatory in nature and the government has not made any changes in the existing law. “Companies who participated (in the meeting) agreed with this. They confirmed unequivocally that the Press Note 2 of 2018 on FDI in e-commerce was only clarificatory in nature and did not change the provisions in the FDI policy,” the official added.
The minister also stated that India wants to engage with the world on data and e-commerce issues “but there has to be reciprocity”, the official said. Top executives from Flipkart, Amazon, Snapdeal, Paytm, eBay, Makemytrip, Swiggy and others attended the meeting.