VC funding up, Google s app fees down
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Last Updated: Mar 17, 2021, 07:55 AM IST
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In today s ETtech Morning Dispatch: India’s draft e-commerce policy; explained in two minutes; A clubhouse chat with Deepinder Goyal whose Zomato is lining up an IPO; and Google Play halves commission on first $1 million.
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Last year, India s GDP contracted by a massive 23.9% between April and June. Venture capital (VC) funding, however, seemed more or less immune to the virus, according to a report by Bain & Co.
Also in today’s letter:
A clubhouse chat with Zomato’s Deepinder Goyal
Google halves Play store commission
India’s new draft e-commerce policy to rein in related parties
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The move is aimed at curbing circumvention of India’s e-commerce FDI policy and anti-competitive activities by large e-commerce marketplaces like Amazon and Flipkart.
How India’s upcoming draft e-commerce policy could impact Flipkart and Amazon?
Bengaluru: The government is looking at extending restrictions placed on large ecommerce marketplaces such as Amazon and Walmart-owned Flipkart to their associates and related parties, to curb alleged circumvention of foreign direct investment (FDI) norms and anti-competitive activities by these players.
A leaked copy of the upcoming
draft e-commerce policy, which The Economic Times has reviewed, said the government will, from time to time, notify which parties fall under the definition of associates and related parties. Industry leaders said this will give rise to uncertainty.
Updated Mar 15, 2021 | 19:37 IST
The proposed safeguards on data may not be received well by global giants like Amazon and the Walmart-backed Flipkart. Representational Image
The Government of India is ready with a new draft of the national e-commerce policy, and it seems to have changed its mind on having a regulator per se. However, e-commerce players will still have to register with a competent authority as identified by the Centre and will be monitored by a Standing Group of Secretaries. What s more, the government seems set to disallow the cross-border flow of data on Indians transacting in India.
E-commerce players data may in fact also be regularly audited by Indian firms. The proposed safeguards on data may not be received well by global giants like Amazon and the Walmart-backed Flipkart.
India s new draft e-commerce policy to rein in related parties indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
The government would lay down principles for usage of data for the development of any industry, where such norms do not already exist, and put in place adequate safeguards to prevent misuse and access of data by unauthorized persons, according to a draft national e-commerce policy. The government is in the process of developing regulations for personal and non-personal data, the policy, which is under discussion, said. The draft has stated that sharing of data for industrial development would be encouraged and regulations for data will be provided for the sharing mechanism. The government shall lay down principles for usage of data for the purpose of development of any industry, e-commerce, consumer protection, national security, economic security and law enforcement including taxation where such principles do not already exist and put in place adequate safeguards to prevent misuse and access of data by unauthorized persons, it said.