Top News

Govt invites states to discuss FDI in e-commerce, multibrand retail

State
governments today suggested that the interest of small retailers and consumers
should be protected while promoting foreign direct investment in retail and

State
governments today suggested that the interest of small retailers and consumers
should be protected while promoting foreign direct investment in retail and
e-commerce, reports the
Economic
Times

Several
issues pertaining to foreign direct investment (FDI) in multi-brand retail and
emerging e-commerce business in the country were discussed during a meeting
chaired by Commerce and Industry Minister Nirmala Sitharaman in Delhi. 

“Today
Government of India invited states to (discuss) the issue of FDI in e-commerce
(both) B2B and B2C and also bringing FDI in multibrand retail,” Haryana
Finance and Industry Minister Captain Abhimanyu told reporters after the
meeting. 

“But
one consensus between the states and the centre was there that whatever
decision is taken, it must be taken after a good deliberation and after
engagement with stakeholders at state levels and after assuring ourselves that
the interest of the consumers, small retailers as well as SME sector are
protected,” Abhimanyu was quoted in the report as saying. 

All
the states have been asked to give their views and comments on the matter
within 15 days to the Centre. Case studies should be done to see the impact of
permitting FDI in retail and e-commerce in different countries, added Abhimanyu.

Sharing
his views on protecting interest, Punjab Industries and Commerce Minister Madan
Mohan Mittal said that issues related with FDI in multi-brand and retail need
clarity. 

Jammu
& Kashmir Minister for Industries Chander Prakash said that it was not
possible to ignore the emerging e-commerce business in the country but “we
have to be careful while introducing (FDI) in e-commerce”. 

“The
FDI in e-commerce needs more debate and discussion. More meetings will be held
on the issue. We will discuss the pros and cons in detail in our state. States
ask for more time on the issue,” Prakash was quoted in the report as
saying. 

However,
some states, including Tamil Nadu are opposed to any kind of FDI in retail and
e-commerce. 

The
Haryana Finance and Industry Minister also added, “There were suggestions
that if China can have company like Alibaba then why not India. India also has
the potential to bring company like that. We have large market place, strong
technological background, we are software giants in the world.” 

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Close