With the thought of taking a position in global trade negotiations at the World Trade Organisation (WTO), India is trying to understand clearly about e-commerce issues that are prevailing now. A senior commerce ministry official said that the commerce ministry is looking and analyzing at all the papers being submitted by the US at WTO on the matter to understand the viewpoints.
The matter assumes significance as rich nations, including the US, want WTO
to start negotiations on new issues such as e-commerce, investments and government procurement. The official added that they are trying to understand the issues relating to it and looking at all that. But there is no idea about what e-commerce is. The US has one idea, developing country has another idea. It is not so straight forward.
Now what they are studying is everybody's interpretation of e-commerce and asking can they come out with a specific definition of this. With a fast growing e-commerce sector both in India and globally, the rich nations want specific guidelines on this at WTO. Roberto Azevedo, Director General, WTO has said e-commerce is a transformative force in global trade, supporting growth, development and job creation.
By reducing trade costs associated with physical distance, e-commerce allows businesses to access the global marketplace, reach a broader network of buyers and participate in international trade, he had said last month. The US had already submitted a discussion paper at WTO on e-commerce in July.