According to a press release by the government, the Union Minister of Commerce and Industry & Railways, Piyush Goyal held a meeting with Minister of State for Commerce and Industry, SomParkash, Ministry of Electronics and Information Technology, Deputy Governor of RBI, B.P. Kanungo, senior officers from Ministry of External Affairs, Department of Commerce and DPIIT along with representatives of E-Commerce companies.
They discussed common issues along the lines of opportunities for India in the growing digital economy, which aids as a value addition in Indian GDP due to advent of e-commerce and 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.
Also, 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 and other discriminatory practices were discussed during Commerce Minister’s meeting with Indian e-Commerce companies.
In fact, 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 ministers meeting with e-Commerce companies.
Anticipated increase in costs and efficiency losses due to data localization, timeline to create a data infrastructure to comply with data localization norms and developing Indian data servers, clouds, emails: Scope, coverage, advantages, disadvantages, costs and gains were some of the issues which got figured out during Piyush Goyal’s meeting with Indian IT companies.