The ever-growing e-commerce sector in the country has launched a new trade association, named TECI (The E-Commerce Council of India) on 13th March 2019. The aim of the association is to act as an official body that voices the industry’s standpoints regarding regulatory and policy frameworks for this sector. Here’s what you need to know about this new non-profit trade organization.
The E-Commerce Council of India (TECI)
The founding members of The E-Commerce Council of India include Flyrobe, Shop101, Fynd, UrbanClap, ShopClues, and Snapdeal. The digital-first brands, such as Rustorange, Breya, Bewakoof are also part of this initiative. Furthermore, online brands which focus mainly on women’s hygiene and baby care products, like Azah, Superbottoms, and Mamaearth are also part of this initiative.
The Goals And Policy Framework
TECI is slated to deal with all the facets of policy advocacy. One of its main responsibilities is to look at the best practices in terms of payments and logistics, data privacy, consumer protection, dispute resolution, development of Micro, Small & Medium Enterprises, and working with the other industry stakeholders. It will also commission and conduct research regarding the issues pertaining to the e-commerce sector. TECI will offer an objective and neutral platform for debating and discussing non-competitive issues regarding the progress of e-commerce sector in India. To fulfill its objectives, the association will also work in collaboration with other trade bodies in the country and abroad.
The Operational Capacity Of The Members
According to reports, the TECI members account for over 7.5 lakh online service providers and sellers. Over 100 million consumers interact with the businesses of the members of the organizations each month. More than thirty domestic and global investors have invested over $2.25 billion in the enterprises led by these e-commerce ventures. This gives you a clear idea about the extent of reach and growth of the members of TECI.
The Policy Framework Of The Indian Government
It is important to mention that TECI has been launched at a time when new regulations are coming up for the e-commerce industry. The newly released draft ecommerce policy of the government treats digital economy and ecommerce in the same manner and there are complicated definitions for points such as advertising rates, spam, data collection, data privacy, and so on. Under the circumstances, the united standpoint of the major e-commerce entities of the country gives them a strong platform to voice their opinions.
The IndiaTech Factor
About two and a half years ago, the Indian e-commerce companies like Hike Messenger, Quikr, Make my trip, Ola, and Flipkart came together to launch the industrial body of Indiatech.org to ensure fair markets in the country and prevent the deep pockets of the global competitors. The members of Indiatech.org include A91 Partners, Policybazaar, Matrix Partners, Kalaari Capital, Lenskart, Urban Ladder, Epiq Capital, and IDG Ventures. It is interesting to note that the two largest players in India, namely Walmart owned Amazon and Flipkart are not part of the TECI.