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Net, e-com to fasten Indian's global access: CII

BS ICE Bureau

Adoption of Internet and e-commerce by Indian business will facilitate access to the global markets and supplier base thereby encouraging competitiveness and higher growth rates, according to a Confederation of Indian Industry report on e-commerce.

The CII report on e-commerce says, Indian e-commerce is at the threshold of a rapid change, which can play a crucial role in building India's competitive advantage and transcending the digital-divide.

The report is to be unveiled by information technology minister Pramod Mahajan on June 13 in Bombay.

CII has also called for a comprehensive review of all rules and regulations governing direct and indirect taxation encompassing electronic transactions. The report brings out an exhaustive list of actions that the regulatory authorities could consider.

CII is of the view that while the benefits of e-commerce are evident, enough measures need to be taken to ensure that opportunities are available to a wide-section of the society.

"However, the failure to harness e-commerce technology could result in India losing vital momentum in the progress towards greater economic prosperity," the report underlines.

The report focuses on four building blocks of e-commerce for India --- communication infrastructure, payment and taxation, security infrastructure and e-governance.

"Communication infrastructure is the key to boost the expansion of the Internet and its infrastructure which would facilitate growth of e-commerce in India," it said.

CII report has also underlined the development of appropriate infrastructure and policies for on-line security as a crucial enabler.

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