Bureau of Indian Standards [BIS] has issued draft rules which lays down the essential principles and provides guidelines for the self-governance of E-Commerce operations for the best interests of not only the consumer but also other stakeholders involved in the business of e-commerce.
An e-commerce platform allows businesses to create and manage online stores while enabling them to present product catalogs, manage inventory, Process payments, etc.
The unprecedented growth of E-commerce platforms like Amazon, Flipkart, Meesho, Ajio, Tata Cliq etc has created several opportunities and benefits for both firms and consumers. However, it has also introduced new challenges, particularly in terms of consumer protection and trust.
It was vital to introduce clear and effective rules and norms for self-governance in e-commerce which are critical to ensure that e-commerce entities operate fairly and transparently, as well as protect consumers from fraudulent and unethical practices.
The proposed rules aim to achieve a complete set of principles and guidelines for e-commerce self-governance, with the goal of supporting an ethical and responsible e-commerce ecosystem.
A quick perusal of the draft rules shows that the rules include all facets of the working of an e-commerce with the perspective the consumer and the e-commerce platform.
With FMCG companies such as ITC, Nestle, Amul, Dabur, and Marico making significant strides in expanding their e-commerce platforms across multiple cities, it becomes even more imperative to formulate rules to protect rights of the individual.
The rules include provisions relating to data protection, anti-counterfeiting measures, unfair trade practises and fairness in competition, advertisements etc.
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