Domestic traders oppose 100% FDI in e-commerce
Himanshu Vatsa | The Dollar Business Though the government is yet to decide on allowing 100% Foreign Direct Investment (FDI) in e-commerce, domestic traders say the move will have adverse impact on small retailers and manufacturers within the country. The Ministry of Commerce will hold a meeting with online retailers and other trade bodies on July 10 to discuss various issues before taking a final decision on the matter. Earlier, the ministry held a consultation with stakeholders in May this year. The Confederation of All India Traders (CAIT) said that allowing 100% FDI in e-commerce will “kill the Indian trade” and give all control of retail business in to the hands international players. “We are going to oppose any such move. We ...
Indian government plans new laws for e-commerce
The Dollar Business Bureau Several e-commerce companies such as e-Bay and Amazon have urged the government to ease customs procedures to boost India’s exports The $3.5 billion e-commerce industry in India is expected to change significantly with a series of government plans underway to structure the largely unregulated sector. The Ministry of Consumer Affairs has stated that the government has constituted an Inter Ministerial Committee for considering the requirement of separate legislation in respect of Direct Selling/Multi-Level Marketing. Raosaheb Patil Danve, Minister of State for Consumer Affairs, informed the Parliament yesterday some e-commerce businesses have come under the purview of the Prize Chits & Money Circulation Schemes (Banning) Act, 1978 administered by Department of Financial Services, which could give rise to ...
