Digital commerce is at a nascent stage in India. However, India is one of the fastest-growing e-commerce markets in Asia/Pacific. The Indian e-commerce market will reach $6 billion in 2015, a 70 percent increase over 2014 revenue of $3.5 billion according to Gartner, Inc. Digital companies will expand investments in personalization, digital marketing, web analytics and big data in order to stay competitive.
Privacy & Security issues:
The e-commerce industry is confronted by multitude of challenges, security being one of the most formidable one. In the wake of cybercrimes going through the roof, it has become imperative for the ecommerce entities to ramp up their vigil against the online pirates. The sophisticated distributed denial of service (DDoS) attacks have made headlines in recent past. Unscrupulous players could also sabotage websites and portals resulting in direct economic loss. Cyber criminals are continually on the lookout to exploit any vulnerability on the e-commerce portals, many a times for financial exploitations. Few instances of ‘Ransomware’ being planted on the websites and portals have also come to light. User privacy concerns on how their personal information, browsing history, shopping behaviours are being tracked, profiled and used have also risen.
e-commerce and IT Act:
E-commerce websites operating in India are required to follow many laws of India including the Information Technology (Amendment) Act, 2008 (IT Act). As per the IT Act, e-commerce companies operating out of India need to comply with requirements mentioned under section 43A & associated rules, if they collect or process ‘Sensitive Personal Data or Information’ as defined in the Act. Other important sections such as section 72A, dealing with sharing of personal information with others, would also be applicable. E-commerce websites usually would also be classified as ‘Intermediaries’, hence they are required to comply with intermediary due diligence requirements as well.
Need for e-commerce forum:
This forum would serve as an appropriate platform for formal and informal exchange of information, ideas and solutions between heads of security/ technology/ solution architects and others in ecommerce domain. It would be a means for deliberation, ideation and policy formulation in the precarious realm of security and privacy. As part of this initiative, chapters will be set up by us in Delhi-NCR, Mumbai and Bangalore. In order to take this endeavour forward, we call upon the industry stakeholders and hope to work closely with them in near future.