March 6, 2002
‘7’
E-BUSINESS SOLUTIONS TO CREATE FREE TRADE ZONE IN CYBER SPACE
The Union Minister for Law, Justice and Company Affairs, Shri Arun Jaitley has said that expansion of Information Technology (IT) has been very quick with a faster and wider communication network in the country. Inaugurating a two-day National Seminar on E-Business Solutions here today, Shri Jaitley said that legal system was being evolved to take care of elements of futuristic thinking on the subject. The Seminar has been organized by the Institutions of Electronics and Telecommunications Engineers (IETE), Delhi Centre.
Talking of advantages of E-Business the Law Minister said that the emerging e-business era was characterized by initiatives that were focused pro-actively on the organization’s core competencies whose business model was oriented towards process aggregation. The Minister said the IT revolution was sweeping across the globe. It had capacity to reduce the transaction costs and enhance the national efficiency. Along with e-commerce and e-business, the next internet revolution taking place was e-governance.
The Minister said that the last ten years have witnessed a sea change in IT and one of the lessons learnt in this field was that Government did not regulate it. The result has been that people in the corporate sector have been using their own e-business solutions.
The Secretary, Department of Information Technology, Shri Rajiv Rattan Shah also spoke on the occasion.
The Seminar is focusing on e-business solution for providing one significant area for economic growth. It intends to achieve national free trade zone in cyber space.