Prime Minister Narendra Modi on Thursday suggested the G20 trade ministers work collectively to ensure equitable competition between large and small sellers as there are challenges in the fast growing cross-border e-commerce.
In a video message at the G20 Trade and Investment Minister’s meeting here, he also emphasised on the need to address the problems faced by consumers in fair price discovery and grievance handling mechanisms. ‘Digitising processes and use of e-commerce have the potential to enhance market access. I am glad that your group is working on the ‘High Level Principles for the Digitalisation of Trade Documents’. These principles can help countries in implementing cross-border electronic trade measures, and reduce compliance burdens.
‘As cross-border e-commerce continues to grow, there are challenges as well. We need to work collectively to ensure equitable competition between large and small sellers,’ he said.
Trade ministers of G20 grouping have gathered to discuss ways to promote international commerce and investments. Terming the government initiative Open Network for Digital Commerce (ONDC) as a game-changer, he said it will democratise the digital market.
Highlighting the challenges of the growth in cross-border e-commerce, the Prime Minister suggested working collectively to ensure equitable competition between large and small sellers. He also emphasised the need to address the problems faced by consumers in fair price discovery and grievance handling mechanisms.
