NITI Ayog Vice Chairman Rajiv Kumar said that usage of data by people in e-commerce needs careful oversight.
When combined with modern technology, it gives unprecedented market power to the platforms which can be used for the benefits of consumers as much as it can be used for causing harm to them.
Mr Kumar was speaking at the workshop on E-commerce titled Changing Competition Landscape in India, organized by Competition Commission of India, CCI, in New Delhi.
He said, In such a scenario, it becomes imperative for CCI and other regulators to work closely with the industry in order to be prepared to deal with challenges.
Talking about the importance of digital modes for doing business, he said, that the e-commerce is the future of trade and business and combined with growth in internet, networking and artificial intelligence, it will see much bigger presence in the economy.
He said, shares of e-commerce have increased significantly and it is bound to grow manifolds in future. He said this growth should be facilitated in a manner that benefits both consumer and seller.
Experts across sectors participated in the event to have deliberation on benefits, challenges and competition in the e-commerce sector.
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