E-commerce means buying, selling of goods & services including digital products: DGFT

New Delhi, Apr 12 (KNN) The Commerce Ministry has introduced the definition of e-commerce for the purpose of MEIS under Foreign Trade Policy, 2015-20 in Chapter 9 of the FTP, 2015-20.

According to the definition, “e-commerce means buying and selling of goods and services including digital products, conducted over digital and electronic network.”

For the purpose 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 RBI circular, the definition adds.

In a notification, the Directorate General of Foreign Trade (DGFT) said, “The definition of e-commerce for the purpose of MEIS under Foreign Trade Policy, 2015-20 is introduced in Chapter 9 of the FTP (2015-20).” (KNN Bureau)