New Delhi, Aug 4 (IANS) The government has no proposal to enact specific laws for the e-commerce industry, even as guidelines were being framed for foreign equity in the business, Consumer Affairs Minister Ram Vilas Paswan said on Tuesday.
Paswan said the anti-trust watchdog had found no basis for the charges of unfair competition levelled against some e-commerce companies.
“There is no proposal for specific law or regulations for e-commerce industry,” Paswan said.
According to the ministry “No official data on year wise growth of the e-commerce sector is available. As per the latest Economic Survey-2014-15, India’s e-commerce market is expected to grow by more than 50 percent in the next five years.”
However, the associations representing the traditional retailers like Confederation of All India Traders (CAIT) and Retailer Association of India (RAI) have sought clarification on the guidelines for Foreign Direct Investment (FDI) in e-commerce.
The FDI policy is being implemented by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry.