Industry body PHDCCI wants government's clarification on FDI policy in e-commerce sector
A report of the Parliamentary Standing Committee on Commerce has made some key observations and recommendations in the interest of the Indian consumer and other stakeholders.
Industry body PHDCCI has urged the government to issue clarifications on the foreign direct investment (FDI) policy in the e-commerce space and plug loopholes to promote the sector.
In a letter to Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain, the chamber said the loopholes in the current policy are being exploited by online retailers to carry out inventory-based e- commerce/multi-brand retail trade in the garb of running marketplace platforms.
"We, therefore, urge you to release the clarification to the FDI policy in e-commerce by plugging the loopholes," it said.
The present policy allows 100 per cent FDI in marketplace e-commerce platforms and prohibits foreign direct investment in inventory-based models of e-commerce.
A report of the Parliamentary Standing Committee on Commerce has made some key observations and recommendations in the interest of the Indian consumer and other stakeholders who not only influence the consumers' choices in e-commerce but also shape the e-commerce ecosystem, it added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Mutual Fund SIP: Invest Rs 1000 per month to grow your corpus to over Rs 3.5 core at retirement, know calculations
Top 7 Stocks to Track: This defence PSU multibagger can give 45% return; food delivery app stock likely to rise 19%
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
01:39 PM IST