ShopClues, Snapdeal join firms forming 'E-commerce Council of India'
A number of online businesses including Snapdeal and ShopClues are reportedly forming an organisation named 'The E-commerce Council of India' to advocate for Indian-owned businesses as more foreign players enter the market.
Between 10 and 11 businesses including Snapdeal and ShopClues are in the process of forming an e-commerce council, two sources told Mint.
“The aim of this group is policy advocacy, exchange of best practices and a general engagement platform for the e-commerce companies in India,” one of the anonymous sources told Mint. “It is about having a focused voice on the e-commerce sector… More e-commerce company founders are expected to join this group eventually."
According to one of the sources, the council is gearing up to make its first official statement by the end of March. The roaming of the council has come as the government is currently in the process of creating its first ever draft e-commerce policy that will set regulations for the sector.
The Department for Industrial Policy and Promotion also introduced new foreign direct investment norms for the sector pertaining to e-commerce.
Many Indian businesses fear that foreign businesses will take over the e-commerce market as India’s largest online businesses, Flipkart and Amazon, are both U.S.-owned.
The formation of an Indian e-commerce group would, however, not be a first. IndiaTech already lobbies for e-commerce businesses, with founding members including MakemyTrip and Ola.
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