The industry body PHDCCI called on the government to provide clarifications on foreign direct investment (FDI) policy in the e-commerce space and plug the gaps to promote the sector.
In a letter to the secretary of the Department of Industry Promotion and Domestic Trade (DPIIT) Anurag Jaina, the Chamber stated that loopholes in current policy are being used by online retailers to run stock-based e-commerce / multi-brand retail in attire to support marketplace platforms.
“That is why we call for clarification of the FDI policy in e-commerce by closing the gaps,” it was written.
The current policy allows 100% FDI in market-driven e-commerce platforms and prohibits foreign direct investment in stock-based e-commerce models.
Parliament’s Standing Committee on Trade report provides several key insights and recommendations in the interests of the Indian consumer and other stakeholders that not only influence consumer e-commerce choices, but also shape the e-commerce ecosystem.
(This story was not edited by our team of editors and was generated from the feed.)
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