Need of Regulatory Authority Over Online Markets

Online markets are highly affecting the business of small retail vendors in streets. Every small vendor is under pressure to survive against potential threat of e-markets. We cannot avoid online market but Government should come up with a policy or regulations, which can help to sustain small street vendors.

High Courts of two states of the country have recently banned online purchase and sale of medicines by giving a clear and compelling message to the government that they will expedite the rules and regulations of online retail market as soon as possible. The Central Government has given time till January 31.

Earlier, the Madras High Court had stayed the sale of medicines for 10 days in October, followed by the Delhi High Court on 12 December and on 17 December the Madras High Court has forced the government to clear the policies by issuing the notification. By law, the government should have done this work earlier. When the reliance on digital transactions was fixed at the time of magnetization, then only the policies of the online market were ensured, the government would receive the praise. There is no waiting for a court’s directive.

This is a big win for general drug vendors, because of the online pharmaceutical business, due to the general drug sales started decreasing. Because the pharmaceutical industry is organized and strong, so it has forced the courts into its favor. The online pharmaceutical business was also being licensed, but the risks faced by the general chemists by introducing the dangers associated with online drug sales in the courts will inspire other industries. From the online market, the same industry will win, which will be organized. When the whole world is getting online, no industry can survive online. Now the other industries are organized like the pharmaceutical industry and the unnecessary rise of the online market-arbitrarily-dictatorship-impose excessive exorbitance.

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We need to welcome, slowly but right decision, the central government is finalizing the overall online market policies. It is important to save the general market from e-market. It is happening in the whole world, as the online e-market is spreading, as well as the stores of home furnishings, stationery, book and ration are going off. It is now a quite tough to run small street shops in profit. There is also a concern that e-vendors are going to occupy the market by offering different types of concession, cash withdrawal, free gifts etc. with the home-access facility of every product.

It is feared that large online companies are doing this by raising the losses, because they know that once Indian shops of the streets were closed, then they would not be able to stop them from arbitrary recovery. In India today, there will hardly be any general seller, who will not suffer from e-market pressure. There are online markets in India, but there will be no small rule. He could not afford more concessions; he could not conspirate to distort the general retail market permanently. There is not only the immediate interest of Indian customers, but also to ensure long-term interest is a priority.

The government will have to look at all the cyber needs that are being sought after the Internet promotion in the country. China is very much ahead in this matter, it has been trying to save its country and its policies. There has been a time to play video games of children, whereas in India the video market of 6400 crore rupees is unbroken. In such a way, to protect the children and the younger generations from any type of e-exploitation, cyber screws or awareness is the biggest demand of the times.

About Devendra Singh 64 Articles
Post Graduate in Computer Science Engineering and MBA (HRM), associated with Technical Training, Higher Education & Social Development Sector. Authored Several Books, Research Papers and Editorial Director of The Analyzer.

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