The Silicon Review ^Asia

India has drafted a new policy for e-commerce that includes steps that will help the local vendors and local startups. It also imposes oversight on how to handle the data provided. The central government and the Ministry of Commerce's Department were working on it for the past two years to promote industry and internal trade. This new policy draft will reduce the domination of global tech giants such as Amazon, Alphabet's Google, and Facebook.

The draft consists of 15 pages that have been laid out by Bloomberg. The draft states that the government has all rights to appointment an e-commerce regulator to make sure that the industry is competitive with broad access to vivid information technology. The rules that are proposed in this draft will also help digitally induced biases by competitors. It also talks about ascertaining whether the use of explainable AI is critical or not.

India's roaring digital economy, with half a billion users, is growing big and humungous. It is also witnessing competition and battles from online retail and content streaming platforms, even from digital payment and messaging platforms. It is also giving fierce competition to the Indian digital economy, and keeping this in mind; the Indian government has drafted this new policy to help the local startups. Further information about draft policy for stakeholders will be provided on the government website.