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`E-biz can enhance efficiency'

Our Bureau

NEW DELHI, March 6

THE spread of information technology (IT) has happened quite fast with a speedier and wider communication network in the country, the Union Minister for Law, Justice and Company Affairs, Mr Arun Jaitley, has said.

Inaugurating a two-day national seminar on E-Business Solutions here, Mr Jaitley said that a legal system was being evolved to take care of elements of futuristic thinking on the subject.

The seminar had been organised by the Institute of Electronics and Telecommunications Engineers (IETE), Delhi centre.

On the advantages of e-business, the Law Minister said that the emerging e-business era was characterised by initiatives that were focussed proactively on the organisation's core competencies whose business model was oriented towards process aggregation.

The Minister said that the IT revolution was sweeping the globe. It had the capacity to reduce transaction costs and enhance efficiency. Along with e-commerce and e-business, the next Internet revolution would be e-governance.

Mr Jaitley also said that the last 10 years had witnessed a sea change in IT and one of the important aspects of this was that the Government did not regulate it. The result was that the corporate sector had been using its own e-business solutions.

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