India Sets Up Panel To Examine FDI Issues For E-Commerce
A committee has been constituted under the Department for Promotion of Industry and Internal Trade to examine issues related to foreign direct investment in the e-commerce sector, the Parliament was informed on Wednesday.
The committee was constituted on July 12 under DPIIT’s additional secretary officer and includes members from the departments of commerce, consumer affairs, legal affairs and medium and small medium enterprises.
They will examine issues related to FDI in e-commerce sector and give suggestions, Commerce and Industry Minister Piyush Goyal said in a written reply to the Lok Sabha.
“A committee has been constituted on 12th July, 2019 under Additional Secretary, DPIIT...to examine issues related to FDI in e-commerce and give its suggestions,” he said.
According to India’s current e-commerce policy, 100 percent FDI is allowed in the e-commerce marketplace model but prohibited in the inventory-based model.
In a separate reply, Goyal said that from 2006 till March 29, 2018, 112 brands have obtained approval of the government for single-brand retail trading activities.
An FDI policy on single-brand retail has been in operation since 2006. FDI up to 100 percent under the automatic route has been allowed in the sector, subject to certain conditions.