Recent legislation and government announcements will have a significant impact on the information technology sector. They include the circulation of draft Certifying Authority Rules for public comment and the announcement that direct foreign investment of 100% will be allowed in internet service providers.
There have been a number of interesting developments in the information tecnology and e-commerce sectors recently. Specifically, change has affected domain names, music piracy and internet trading.
Although the government to date has been receptive to the requirements of the IT sector, many aspects of the Finance Ministry's Budget proposals have not been warmly received by industry members.
Including: Current Regulation; Contractual Issues; Jurisdiction; Digital Signatures; Domain Names; Privacy; New Telecommunications Policy 1999; Information Technology Bill 1999
India’s National Stock Exchange has launched an information technology subsidiary and IT company Satyam Infoway has listed on Nasdaq
India has yet to enact specific legislation relating to activity over the Internet. However, a cyber law is under consideration that would not only allow 49% foreign equity in e-commerce ventures, but would also regulate the IT industry and establish a special tribunal to hear IT-related disputes.