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Govt rules out plan to introduce FDI in e-commerce

e-commerceThe government is not considering any plans to introduce foreign direct investment (FDI) in e-commerce retail, Parliament was informed today.

“No such proposal is under consideration of the government,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha.

She was replying to a question whether government plans to introduce FDI in e-commerce retail.

The ministry is holding stakeholders consultations with industry and states on the issues related with e-commerce such as its definition, said the minister.

“The term ‘e-commerce retail’ has not been defined in the extant FDI policy. However, as per extant FDI policy, e-commerce activities refer to the activity of buying and selling by a company through the e-commerce platform,” she said.

Replying to a separate question on National Industrial Corridor Development Authority, she said the ministry is planning to take Cabinet approval for constitution of NICDA.

The formation of the authority will enable development and implementation of industrial corridor projects across India.

Replying to a separate question on e-biz platform, she said 12 central government services have been identified for integration with the portal and that includes annual filing of company returns, application of environment clearance and constitution of firm-partnership/LLP company.

As many as 14 central government services have already been integrated with the e-biz portal. The move is aimed at improving ease of doing business.

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