siliconindia | | FEBRUARY 20238WHAT TO EXPECT FROM NEW STANDARDS FOR LIVE COMMERCE IN INDIAThere has been a talk by the government with stakeholders who objected to the regulatory framework for live commerce in India. Under the Ministry of Consumer Affairs, the Bureau of Indian Standards has started to assess the need for guidelines for the new form of e-Commerce as mentioned by a renowned media house. There is a follow of moves by the International Organization for Standardization (ISO) for the issuance of international standards for live commerce.The Indian standards recognition email reviewed by the media house has sought comments from members of the retail, e-Commerce, and e-Payment services sectional committee after the ISO floated a ballot for registering a new proposal on live commerce. The norms specified by the ISO have started the process of issuing new international standards to find a vote from member countries on whether a preliminary working item should be issued or not.There are member countries examining the proposal in the context of policies or rules and trade interests. BIS confirmed the development of the media following email queries. A member of the BIS committee stated that it received the international standards body's request for comments. A reporter stated, "The idea essentially here is whether to follow the ISO guidelines or to customize as per market need".Company EdificationThe committee includes top-notch representatives from companies including Amazon India, Flipkart, Tata group, Reliance Industries, Paytm, Shiprocket, BigBasket, and others. There are includes officials from the ministries of electronics and information technology, MSME, corporate affairs, addition to the Directorate General of Foreign Trade, Quality Council of India, and industry bodies including the Internet and Mobile Association of India (IAMAI), Confederation of Indian Industry (CII).The government move has arrived at a time when live commerce is witnessing increased participation from top e-Tailers such as Flipkart, Amazon India, and Myntra. Live commerce is a fair business in China and it relies on influencer shopping experts that hold live sessions on e-Commerce platforms. The idea is for shoppers for making such purchases while the Livestream runs. There are queries answered by the experts. At present, there are no separate guidelines for live commerce in India except the broader ones for the e-Commerce marketplace with regard to online shopping.Live CommerceLive commerce can be completed through multiple routes, which include social media platforms as well as short-video applications, where influencers, in partnership with brands, showcase products. Platforms such as Myntra and Amazon have contracts with influencers and various commercial aspects that are incorporated into the same.There is a survey by the community Local Circles that showed 70 percent of its respondents felt live commerce will get useful and were keen on engaging in it. Acquiring the queries resolved in real time, pricing discussions, and IN FOCUS
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