NO PROPOSALS UNDER CONSIDERATION TO REVIEW FDI POLICY ON E-COMMERCE
The government today said there is no proposal under consideration to review the foreign direct investment policy on the e-commerce sector.
At present, there is no proposal under consideration of the government to review the FDI policy on business to consumer (B2C) e-commerce.
Global retail giants like Amazon wants India to relax the foreign investment norms in e-commerce space.
India’s Foreign Direct Investment (FDI) policy restricts e-commerce companies from offering services directly to retail consumers. At present, 100 per cent FDI is allowed in business -to-business (B2B) e-commerce but not in retail trading.
Currently, as per the policy, 51 per cent FDI is allowed in the multi-brand retail sector.
The government has said it wants to improve India’s position to top-50 in terms of ease of doing business from 142nd currently, as per the latest World Bank report in this regard.