These days a common question that is frequently asked is will e-books kill the bookstores in India? This genuine and interesting question is asked because the e-books publications in India and e-commerce industry are fast becoming popular.
India is encouraging use of information and communication technology (ICT) and this has opened new avenues for the education sector of India. Foreign players have also realised the potential of e-commerce and e-books in India which is emerging as the largest market for e-books in the world.
However, in the zest of earning profits, Indian laws in general and e-commerce laws and regulations of India in particular must not be forgotten. As a matter of fact, Indian government would ascertain beneficiary in Walmart probe. This shows that any intention to flout Indian laws is a real bad idea especially if e-commerce market f India is to be captured.
The legal formalities required for starting e-commerce business in India are now well known. However, legal issues in e-commerce in India are still not clear to many national and international e-commerce business houses and entrepreneurs. For instance, the legal requirements to start an e-commerce website In India are covered by many legislations including information technology act, 2000 (IT Act 2000). However, both national and international e-commerce players are not complying with legal issues of online shopping in India.
FDI in wholesale trading and e-commerce sectors of India under consolidated FDI policy of India 2012 was given a major boost by Indian government. Further, the Parliament of India recently approved FDI in e-commerce sector of India. Thus, it is high time for structuring of investments in e-commerce businesses in India.
Perry4Law and Perry4Law’s Techno Legal Base (PTLB) suggest that e-commerce business houses must keep in mind the specified requirements of cyber due diligence for Indian companies. Many companies have already found themselves on the wrong side of Indian laws for violating the same. There is no sense in ignoring Indian laws by e-books publishers and distributors when they wish to trap the Indian e-commerce market.