Amazon's FDI in food retail to face opposition from middlemen
Sneha Gilada The Ministry of Food Processing Industry has announced that Amazon plans to invest about $500 million in India's food e-retail market. Other e-commerce firms in the industry like Grofers and Big Basket have also come forward with proposals for investments. The government has received investment proposals from a group of companies totalling $695 million in value. In 2016, the government had pushed through a bill that opened up 100% FDI in the retail of food products manufactured or sourced from India. A similar proposition for non-food products is still in the working. Minister of Food Processing Harsimrat Kaur Badal broke the news and hailed the series of investment proposals as a boost to the food processing Industry of India. From 2011-12 to 2015-16 (until December), the total FDI inflows in ...
Google to set up Wi-Fi at 400 Indian railway stations in India
Source: PTI Google has announced plans to make internet accessible to one crore passengers at 100 busiest railway stations in India by the end of next year and will later expand it to 300 other stations, making it one of the largest public Wi-Fi projects in the world. “I'm very proud to announce that it's the train stations of India that are going to help get millions of people online. In the past year, 100 million people in India started using the internet for the first time,” Google's India-born CEO Sunder Pichai said in a blog post on Sunday after his meeting with Prime Minister Narendra Modi. This means there are now more internet users in India than in every country in ...
Legal framework, consumer protection must for FDI in e-commerce, say states
The Dollar Business Bureau Expressing concern over legal and tax related issues related to e-commerce, state governments said that small retailers and consumers must be protected before allowing 100% foreign direct investment (FDI) in the sector. Union Minister of State for Commerce and Industry Nirmala Sitharaman met trade ministers of all the states on Wednesday to discuss the matter. The Union Minister said that the government will decide on allowing 100% FDI in e-commerce after proper consultation with all stake holders. The minister asked state governments to give their views on the matter in two weeks. At Wednesday's meeting, Chhattisgarh Commerce and Industry Minister Amar Agrawal said that the country must have a comprehensive law to deal with issues related to ...
