Rajeeva Ratna Shah, Member Secretary, Planning Commission said India should
ensure security of data transmission, protect privacy and transaction apart from
improving legal infrastructure to achieve the estimated volume of $10 billion
mark in e-commerce in the next decade. He was delivering the keynote address at
the e-business Summit, 'Taking the Next Leap', organized by the Confederation of
Indian Industry.
The volume of e-commerce in India is now Rs 570 crore, with an annual growth
rate of over 50 percent. This is estimated to be around $10 billion in the next
decade with the B2C segment cornering a major chunk of the business. E-business
in India is estimated to reach Rs 2,300 crore by 2006-07.
Referring to cyber security initiatives, Shah said that the Government has
set up five working groups and has constituted an inter-ministerial working
group apart from Information Security Technology Development Council (ISTDC). It
has also created a National Information Security Assurance Framework.
Speaking on the occasion, U Srinivasa Raghavan, Postal Service Board member
said that India Post could play a key role in furthering e-Business in India.
The Department of Post is geared up to face the challenge and is looking at a
market size of 100 crore people.
Earlier, Ajit Balakrishnan, CEO, rediff.com opined that airline and railway
ticketing, electronic gadgets and games would drive e-commerce in future and
take it to the next level.
E-commerce lowers transaction costs significantly and allows round the clock
business transactions. However, Balakrishnan was of the view that several policy
corrections were imperative to take e-commerce to the next level.
CyberMedia News
New Delhi