NEW DELHI: Several homegrown e-commerce companies, including Snapdeal, Shopclues and Fynd, have come together to form a lobby group named The E-Commerce Council of India (TECI).This comes against the backdrop of the revision in the FDI in e-commerce norms that have impacted business models of e-commerce giants such as Amazon Indiaand Walmart-backed Flipkart. Many companies belonging to TECI have backed the tweaking of the rules as it is expected to provide a level-playing field for homegrown e-commerce players and sellers.
Earlier, poster boys of Indian e-commerce market, Flipkart founder Sachin Bansal and founder of Ola Bhavish Aggarwal, tried bringing together a host of domestic e-commerce companies in a similar manner.
The booming Indian ecommerce market estimated to reach $230 billion by 2028, accounting for 10% of India’s retail, according to a Morgan Stanley report, has spawned several lobby groups, including Confederation of All India Traders (CAIT), All India Online Vendors Association (AIOVA) and Indian Private Equity and Venture Capital Association (IVCA).
Besides policy advocacy, the bodies have lobbied on issues including data privacy, logistics, consumer protection and development of small businesses. TECI members, between themselves, account for more than 7.5 lakh online sellers and service providers, the statement said.
The founding members also include digital-first fashion brands like Bewakoof, Breyaand Rustorange.
No comments:
Post a Comment