India Development News & Foreign Investment Opportunities

Goyal-Industry discussed opportunities in digital economy

Companies strength-weakness assessed

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Companies strength-weakness assessed

 

PIB
Minister Goyal in a meeting with e-commerce industry stakeholders.

Commerce and Industry Minister Piyush Goyal and industry stakeholders have discussed opportunities for India in the growing digital economy.

The discussion also covered value addition in Indian GDP due to advent of e-commerce, understanding data flows from four aspects – privacy, security, safety and free choice, ownership and sharing of data, gains and costs of cross border flow of data and means to monitor use of data.

Issues like strengths and weaknesses of Indian companies who may benefit from e-commerce, threats from large foreign competition, level playing field and impact of anti-competitive practices such as predatory pricing were also discussed during the meeting held in Delhi on 17 June 2019.

Gains and costs of cross border flow of data, ownership and sharing of data and efficiency gains and losses on utilizing Indian data servers, emails, clouds were deliberated during the meeting with e-Commerce companies.

Also highlighted were anticipated increase in costs and efficiency losses due to data localization, timeline to create a data infrastructure to comply with data localisation norms and developing Indian data servers, clouds, emails: Scope, coverage, advantages, disadvantages, costs and gains.

The elaborated discussions included anticipated increase in costs and efficiency losses due to data localization, monitoring use of data from lens of privacy, security, safety and choice and efficiency gains and losses on utilizing Indian data servers, emails and clouds. fiinews.com

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