LEGAL REGULATIONS OF E-COMMERCE IN INDIA

Abstract

Electronic commerce or e-commerce industry is one of the fastest growing industry in India as well as across the world. From the time of its incorporation, it has been a considerable development in this filed. According to the Compounded Annual Growth Rate (CAGR), since 2009 E-commerce industry has marked a 34% growth rate and it is expected to attain CAGR of 63% ~USD 8.5 billion by CY 2016(1). Like any other developing sector, E-commerce industry has also got its own challenges. The inadequate and inefficient legal and regulatory framework is one of the challenges which makes it unable to cope with the ensuring rights and obligations of the contracting parties. This study is all about the present laws and regulations that govern ecommerce and ascertain the challenges and opportunities available for e-commerce under the provision of the present legal rule in India. The study also focusses on finding the effectiveness of the present laws and regulations that deal with the legal issues of e-commerce, currently in the legal system and looks at ways to provide improvement plans that are required for a good legal and regulatory framework to ensure a fair and consumer-friendly e-commerce environment in India.