Good news in the offing for Flipkart, Amazon, Snapdeal?
Flipkart, Amazon, Snapdeal and other Indian online marketplaces may get an impetus in their businesses as the Union Government is looking to open doors for Foreign Direct Investment (FDI) in the e-Commerce sector, a month after it said there was no proposal under consideration to review FDI policy on the aforesaid sector.
The Government, which had maintained that the administration was committed to keep FDI open only for Indian-owned enterprises, has called for a meeting to reassess its position on the policy and will be chaired by Union Commerce Minister Nirmala Sitharaman.
The discussing points in the meeting are likely going to be over whether 100% FDI should be allowed in Business-to-Consumer (B2C) e-Commerce, should it be open for all products or only non-food products and whether it should be automatic up to 50%.
Online marketplaces like Flipkart, Snapdeal and Amazon as well as industry associations such as CII, FICCI, Nasscom, E-commerce Coalition of India, US India Business Council, Internand Mobile Association of India and Indian Venture Capital Association are among the invitees for the meeting.
"The government is thinking to differentiate its FDI policy on offline retail from e-Commerce as trade associations have eased opposition to e-Commerce," Head of an industry association invited to the meeting told Economic Times.
The Government, which had maintained that the administration was committed to keep FDI open only for Indian-owned enterprises, has called for a meeting to reassess its position on the policy and will be chaired by Union Commerce Minister Nirmala Sitharaman.
The discussing points in the meeting are likely going to be over whether 100% FDI should be allowed in Business-to-Consumer (B2C) e-Commerce, should it be open for all products or only non-food products and whether it should be automatic up to 50%.
Online marketplaces like Flipkart, Snapdeal and Amazon as well as industry associations such as CII, FICCI, Nasscom, E-commerce Coalition of India, US India Business Council, Internand Mobile Association of India and Indian Venture Capital Association are among the invitees for the meeting.
"The government is thinking to differentiate its FDI policy on offline retail from e-Commerce as trade associations have eased opposition to e-Commerce," Head of an industry association invited to the meeting told Economic Times.
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