Financial Daily from THE HINDU group of publications
Tuesday, Dec 03, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 03, 2002 |
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Info-Tech
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E-Commerce & E-Business `Digital signature can promote e-commerce' Our Bureau
HYDERABAD, Dec. 2 THE Controller of Certifying Authority, Government of India, has emphasised the need to create trust in the electronic environment through digital signatures as this has the potential to become an important tool to bring in efficiencies in the system and thereby boost e-commerce. The Controller of Certifying Authorities, Ministry of Communication and Information Technology, Mr K.N. Gupta, addressing an open house here today said that the issue of digital signatures, which had become legal after the IT Act 2000 was enacted by Parliament, had the potential to spur the overall e-commerce business in the country. Dr K.K. Bajaj, Deputy Controller of CCA, said though there are wide range of projections about the growth of global e - commerce, it is a matter of time before India becomes an important player in contributing to the growth of the sector. Citing the recent CII-McKinsey and Boston Consulting Group reports on the growth of e-commerce in the country, he said that the IT Act had paved the way for creation of a certification authority and with safety built into the system, India could well witness a significant growth in e-commerce by the year 2004. According to estimates, the US Internet economy is set to grow to about $4.48 trillion by 2004 in which e-commerce is set to account about $2.5 trillion. Of this about 25 per cent is accounted for by the Asian countries including China, Japan and Singapore. India could well garner a reasonable share in the increasing growth of e-commerce powered by the growth of Internet, Mr Bajaj said.
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