E-Commerce New Definition

E-Commerce New Definition

Directorate General of Foreign Trade has introduced a new definition of e-commerce in Chapter 9 of the Foreign Trade Policy. The new definition reads as follows:- “e-commerce means buying and selling of goods and services, including digital products, conducted over digital and electronic network." For the purposes of Merchandise Exports from India Scheme (MEIS) e-commerce shall mean the export of goods hosted on a website accessible through the internet to a purchaser. While the dispatch of goods shall be made through courier or postal mode, as specified under the MEIS, the payment for goods purchased on e – commerce platform shall be done through international credit/debit cards and as per the Reserve Bank of India norms.