Shikhar Pareek, CHRIST (Deemed to be University)
Dr. Vidya Ann Jacob, CHRIST (Deemed to be University)
ABSTRACT
E-commerce has revolutionized global trade. Despite recent expansion, the Indian e-commerce business continues to face significant obstacles. E-commerce refers to purchasing and selling goods and services between businesses and their clients through electronic media without using paper. The Organization for Economic Cooperation and Development (OECD) defines e-commerce as a new means of conducting business across networks using nonproprietary protocols defined through open standard-setting processes like the Internet.
E-commerce's global appeal stems from increased customer choice and convenience in online transactions, allowing vendors to offer their products or services directly to consumers. Customers can make payments using electronic funds transfers, debit cards, credit cards, or net banking. E-commerce is rapidly replacing non-e-commerce transactions in various industries due to its convenience and ease of business. E-commerce is widely used in business and customer service.
Additionally, the paper highlights potential difficulties with electronic data transfer, B2C-related disputes, and copyright and data protection issues and offers remedies. There are only two e-commerce companies, Amazon and Flipkart, that are relevant challenges in the Indian Scenario, and their purview is restricted to the new guidelines and laws made by the F.D.A.'s stance on Indian e-commerce. There have been allusions to the previous regulations. Numerous laws, rules, and policies comprise India's legal framework for e-commerce transactions. The Information Technology Act of 2000 (I.T. Act) and the Consumer Protection Act of 2019 are the two main pieces of legislation that govern e-commerce transactions in India. The I.T. Act regulates electronic transactions, especially those involving e- commerce. It defines electronic commerce as "the buying and selling goods and services over digital and electronic networks, including digital items. This paper is based on a doctrinal research methodology. It is also analytical because this is an extensive study on present-day examples of businesses that have benefited or have been affected by the current regulations on e-commerce in India. The ability for e-commerce to grow will be influenced by several elements, the most important of which will be infrastructure, including physical infrastructure (such as the communications network) and financial and legal frameworks, as well as a business and trade environment favorable to online trade. Additionally, it will rely on the cost and accessibility of hardware, software, hardware (computers, routers, switches, etc.), human resources, and instructional policies and requirements of the nation.
Keywords: E- commerce, Law, Foreign Direct Investment
