Electronic commerce in India is all set for big growth. However, there are many technological, legal and regulatory challenges that are forcing limited growth of electronic commerce in India.Electronic commerce laws in India are still evolving and there are many legal regulatory requirements that must be complied with before an e-commerce project is launched in India. At the same time, there is an urgent need to enact full fledged and dedicated e-commerce laws in India.
So what does techno legal experts of India think about e-commerce environment and regulatory aspects of the same? According to Praveen Dalal, managing partner of New Delhi based ICT law firm Perry4Law and leading techno legal expert of Asia, E-Commerce in India requires compliance with various Statutory Laws of India. The chief among them are the Cyber Law of India, Indian Contract Act, Privacy and Data Protection Regulations, Cyber Security Regulations, Foreign Investments Regulations, etc.
Although E-Commerce in India has great potentials yet Legal Aspects of E-Commerce in India must be taken care of before launching an E-Commerce Project or Website, suggests Praveen Dalal.
Of all these legal requirements, the requirements prescribed by the cyber law of India are most stringent. For instance, e-commerce players are intermediaries for the purpose of affixing their Internet intermediaries’ liability in India under the IT Act 2000. Similarly, e-commerce players are also required to ensure cyber law due diligence in India that is frequently ignored by them.
However, legal awareness about e-commerce requirements is missing among masses. Even there are very few e-commerce lawyers and law firms in India that can provide expert services in this regard. The e-commerce players must undertake a prior and proper techno legal due diligence for establishing e-commerce business in India. Jumping upon the e-commerce terrain without proper compliances may prove a landmine instead of a goldmine.
