Chennai, March 30, 2016: The government’s move to open up E-commerce market place to Foreign Direct Investments (FDI) will, apart from bring in more investments and improve GDP, also streamline and regulate the market while arresting the unethical price competitions, says Bhaskar Venkatraman, Founder and Director of JusTransact.com, an exclusive e-commerce market place for Point Of Sale (POS) products and consumables, for both retail and non-retail applications.
Reacting to the government move to allow 100 % FDI in India’s e-commerce sector, Bhaskar, who is one of the pioneers in introducing POS technology to Indian retail market, says, “This is a good step with a long term vision and a step towards bring in regulations and healthy competition among e-commerce companies. The move will arrest un-ethical price competitions vis-à-vis brick-and-mortar counterparts which will ultimately benefit end users. This will also change consumers’ perspective towards online shopping as they give more weightage to convenience rather than the price factors.”
On the flip side, the entry of international biggies into Indian e-commerce sector will lead to realignments of local companies, which is unavoidable in the present scenario. This will trigger healthy competition and improve products’ standards in the market, a win-win situation for consumers, he adds. K Ramanathan (firstname.lastname@example.org)