FDI: Industry bodies disagree on whether India needs new rules for FDI in e-commerce indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
With Covid-19 vaccination in full swing across the country, people facing sectors like the retail and trade are now seeking protection against the novel coronavirus. Retailers and traders, who are at risk of Covid-19 infection due to their constant exposure to public spaces, have urged the government to include them into the frontline workers list. The move, they argue, will boost the chances of a speedy recovery in the consumer retail sector. Confederation of All India Traders (CAIT) has approached the Union Health Minister Harsha Vardhan for inclusion of shop floor level employees in the sector in the ongoing vaccination drive. The body has also sought vaccines for all age groups of workers. Currently, apart from people above 60, only people above 45 years of age and with co-morbidities are being vaccinated.
Domestic traders body CAIT on Wednesday said the foreign direct investment policy in the e-commerce sector should be enforced in letter and spirit so that global players do not violate the rules. The issue was raised by Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal at a meeting called by the Department for Promotion of Industry and Internal Trade (DPIIT) to discuss about FDI in e-commerce. The present policy, that allows 100 per cent FDI in marketplace e-commerce platforms and prohibits FDI in inventory-based model of e-commerce, is absolutely correct and in line with government s intent to protect the small merchants, he said.
A trade association on Wednesday asked the government to take strict action against Amazon and Flipkart, accusing the e-commerce companies of violating India’s rules on foreign direct investment (FDI). The Confederation of All India Traders (CAIT), which claims to represent 80 million retail stores, was among associations that met officials from the government’s department for promotion of industry and internal trade (DPIIT) on Wednesday. The department is holding a series of stakeholder consultations on issues pertaining to foreign direct investment (FDI) in e-commerce. The meeting was held after Piyush Goyal, commerce and industry minister, said the government is considering clarifying rules on e-commerce. The government has received complaints against e-commerce companies alleging violations of the FDI policy.
FDI policy in e-commerce sector should be enforced in letter and spirit: CAIT
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Last Updated: Mar 17, 2021, 08:55 PM IST
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The present policy, that allows 100 per cent FDI in marketplace e-commerce platforms and prohibits FDI in inventory-based model of e-commerce, is absolutely correct and in line with government s intent to protect the small merchants, he said.
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CAIT has time and again alleged that large multinational e-commerce companies have continued to indulge in prohibited inventory-based model of e-commerce by direct and indirect control over the seller s/inventory.
Domestic traders body CAIT on Wednesday said the foreign direct investment policy in the e-commerce sector should be enforced in letter and spirit so that global players do not violate the rules. The issue was raised by Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal at a meeting called by the Department for Promotion of Industry and Internal Trad