Commerce Ministry on Wednesday sought specific suggestions from the industry to strengthen e-commerce platform for enhancing trade and reducing transaction cost.
"let us come out with very specific agenda as what needs to be done by various ministries...We have a huge potential but we have lot of gaps on legal side, infrastructure side and on the taxation side.
We need to address these," Joint Secretary in the Commerce Ministry Sudhanshu Pandey said. He was speaking at a CII function on transaction cost and e-commerce. He said that movement of goods from one state to other in the country face several problems which lead to increase in transaction cost. According to industry experts, the quantum of transaction cost is 7-10 percent of the total value of Indian exports.