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Not planning to review FDI policy on e-comm any time soon

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.

April 29, 2015 / 20:17 IST
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The government Wednesdaysaid 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,"Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

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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. In a separate reply, the Minister said the government has not taken any decision with regard to implementation of FDI policy in the multi-brand retail trading.