ITLegal

. As e-commerce grows, protecting consumers is a challenge: Paswan
Consumer protection in the e-commerce age is a challenge facing the Consumer Affairs Ministry, Union Food Minister Ram Vilas Paswan said here.
Dissemination of info
“E-commerce is growing and consumers making online purchases should not be less protected than those shopping at local stores. Choices have also widened for customers and is a big challenge from the consumer protection point of view,” he said on the sidelines of an event held by the Consumer Coordination Council (CCC).
Paswan said there was need to inform online shoppers of their rights and how to find legal recourse for their complaints. The Ministry, however, has not received complaints from online customers so far. Keshav Desiraju, Consumer Affairs Secretary, believed that with the expansion of online retail, there was a need to include specific provisions for the same in the Consumer Protection Act (CoPRA, 1986) to safeguard consumer interest.
Rise in fraudulent selling
“With the remarkable growth in communication technology and e-commerce, we need to revisit all our views on how the Act is implemented in the context of e-commerce.
“What are the implications for consumer welfare when the buyer and seller do not come face to face and where the transaction is on an entirely Internet-based platform?” he said.
Growth of online marketplaces has ramped up not just competition but the chances of fraudulent selling, said Indrani Thuraisingham, Head of Consumers International (Asia Pacific & West Asia). “It has increased challenges for seeking redress, created new opportunities for fraud and heightened related consumer problems such as spam and issues of privacy and security,” she added.
While increased consumer choice is a benefit, vulnerable consumers could be disadvantaged due to information asymmetry, added Thuraisingham.
Strengthening of Acts
The Ministry has already suggested amendments to CoPRA, Paswan said, a significant suggestion being that of a regulatory authority to deal with consumer cases faster.
The Ministry was focusing on improving the quality of goods being produced domestically and has suggested changes for the Bureau of Indian Standards Act (1986).
“The Consumer Protection Act was put in place 28 years ago, the world and consumers have changed since then but the Act has not.
“We have also proposed that the number of goods which has to comply with mandatory quality standards under the BIS Act be raised from 102 to 2300,” he said.
http://www.business-standard.com/article/reuters/future-retail-amazon-in-enter-into-strategic-partnership-114101300146_1.html

India's ecommerce poised at $43 bn in 5 years: Meet the key growth leaders
indian e-commerce is projected to explode from $10 billion to $43 billion in the next five years, according to Nomura's India Internet Report last month. There are 11 categories, and within them 42 players, that are poised to shape this blazing path.



The Bulge Bracket

MARKETPLACE

The multi-category segment is on fire this year. The largest pie of the online retail ecosystem is drawing the maximum risk capital and eyeballs.
The top three players — Flipkart, Snapdeal and Amazon — are expected to do $4 billion in sales this fiscal. "Indians are horizontal bazaar shoppers and don't have deep vertical buying experience offline in most categories," says Suvir Sujan, co-founder of Nexus Venture Partners, an early investor in Snapdeal.

Today, all multi-category players are on the inventory-less marketplace model. They are all investing heavily in warehouses and delivery. They are making acquisitions. You will see us do some very interesting and strategic acquisitions very soon," says Kunal Bahl, cofounder and CEO of Snapdeal.

VC firm Accel Partners expects the product e-tailing market to expand from $2 billion in 2013 to $8.5 billion in 2016. And, for now, the focus is more on growth and less on profitability.

TRAVEL

If the multi-product players have the largest share of eyeballs, the travel portals have the wallet. At around $8 billion, online travel accounted for 70% of the overall Indian e-commerce market in 2013, according to IAMAI. Three shifts are underway. One, with air tickets becoming a staple, travel portals are turning their focus to hotel bookings and travel packages. "Online pe*******on (of hotel bookings) is only around 7%," says a recent Nomura research report.
"Commissions paid by hotels are nearly 3x those in the air (ticket) segment." Two, there's a growing emphasis on smartphone traffic and applications. "Mobile is the perfect channel for a travel company to provide real value to the customer and create higher engagement by enabling an easy travel-booking experience," says Deep Kalra, founder & group CEO of Makemytrip, the largest online travel agency. Three, the segment has seen early signs of consolidation.

FASHION

After electronics, fashion and lifestyle is the largest category in online retail, with a 25% share. But unlike electronics, it is more the domain of specialists than marketplaces. Myntra, part of Flipkart, and Jabong are the leaders, competing fiercely with discounts and for exclusive brand partnerships. Myntra, which is targeting sales of Rs 2,000 crore this fiscal, has raced ahead by launching several private labels, including Roadster and Dressberry. While external brands give a margin of up to 35%, in-house labels go up to 60%. Jabong, which has exclusive partnerships with international brands and designers, is also lining up its own labels.

Then, there are web-only brands like Fab Alley, Zovi and Yepme. And, lastly, there are the multi-category players. Large players could drive acquisitions. "Don't be surprised, with the advent of online players like Asos and large Chinese players coming into India," says Sudhir Sethi, founder-chairman of early-stage venture fund IDG Ventures India. "These players would not like to start ground-up but will look for an acquisition to be the base for their India entry."

http://economictimes.indiatimes.com/industry/services/retail/indias-ecommerce-poised-at-43-bn-in-5-years-meet-the-key-growth-leaders/articleshow/40539506.cms

India's ecommerce poised at $43 bn in 5 years: Meet the key growth leaders - The Economic Times The multi-category segment is on fire this year. The largest pie of the online retail ecosystem is drawing the maximum risk capital and eyeballs.

KPIT deploys Icertis Contract Management on Microsoft Azure cloud
KPIT, an IT consulting firm, has deployed Icertis Contract Management (ICM) solutions – built on Microsoft Azure cloud platform for managing contracts — in less than 60 days.
“KPIT is a global company and is expanding rapidly across multiple countries. We needed a contract management solution that could automate and standardize our global contract management to ensure improved compliance, lower risk, and complete visibility across the organization. ICM helped us achieve exactly that, and in record time,” said Anil Patwardhan, SVP & head – Corporate Finance & Governance, KPIT.
Icertis Contract Management has automated KPIT’s contracting processes, including contracts based on the counterparty’s templates. All contracts will pass through the right level of review and can be found, reviewed and approved from any device.
The system will provide proactive alerts and notifications, with an escalation mechanism and dashboard to ensure compliance and tracking. ICM has been integrated into KPIT’s SAP ERP environment, ensuring seamless invoice validation and controls.
http://www.infotechlead.com/2014/08/11/kpit-deploys-icertis-contract-management-microsoft-azure-cloud-platform-24724

KPIT deploys Icertis Contract Management on Microsoft Azure cloud platform KPIT deploys Icertis Contract Management on Microsoft Azure cloud platform infotech August 11, 2014 0 Comment Cloud 0 KPIT, an IT consulting firm, has deployed Icertis Contract Management (ICM) solutions – built on Microsoft Azure cloud platform for managing contracts — in less than 60 days. “KPIT i…