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Govt not considering any plans to introduce FDI in e-commerce retail

The government is not considering any plans to
introduce foreign direct investment (FDI) in e-commerce retail, Parliament was
informed recently, reports the Economic Times. 

The government is not considering any plans to
introduce foreign direct investment (FDI) in e-commerce retail, Parliament was
informed recently, reports the Economic Times. 

When asked whether the government plans to
introduce FDI in e-commerce retail, Commerce and Industry Minister Nirmala
Sitharaman told the Economic Times, “No such proposal is under
consideration of the government.”

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 added in the report.

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. 

While answering 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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