Zee Media Bureau
New Delhi: In the wake of several complains against against online retailers in India for alleged unfair business practices, the consumer affairs department has moved a Cabinet proposal to bring such companies under the purview of consumer protection law, a daily newspaper reported on Tuesday.
This may be recalled that Union Food Minister Ram Vilas Paswan has last month said that there was need to inform online shoppers of their rights and how to find legal recourse for their complaints.
In the Cabinet note, a proposal has been made to set up Consumer Protection Authority that will act as a watchdog for marketing of products that are "unsafe and hazardous", the paper said.
The current market size of online retail sector has been pegged at USD 3.5 billion (over Rs 21,000 crore), a report by research and consultancy firm RNCOS has recently said.
The online retail market is projected to grow at a compound annual rate of 40-45 percent during 2014-18, it added.
Indian online retail market is estimated to grow over 4-fold to touch USD 14.5 billion (over Rs 88,000 crore) by 2018 on account of rapid expansion of e-commerce in the country.
