Commerce Minister Piyush Goyal said that there will be no change in FDI for the e-commerce sector. Recently, Goyal criticized some American companies for violating the laws of the country.
NEW DELHI: Commerce and Industry Minister Piyush Goyal ( Piyush Goyal ) said Friday that E-existing foreign direct commerce sector investment ( FDI ) will not change government policy. He said that, ‘The biggest priority for us is to protect the interests of 130 crore consumers of the country.’
‘Consumer is top of our mind’
Goyal further said, ‘The policy of the government regarding FDI is very transparent from day one. We have received complaints many times that the rules are not being followed. But we will soon issue clarification regarding the existing policy. By bringing e-commerce rule, we have told that consumer is at the top. 130 crore consumers are the most important stakeholders for us. Foreign e-commerce companies will have to follow the law of the country.
What is the current policy now?
Let us tell you that the government has had a conflict with many companies doing business online. Goyal had also said that foreign e-commerce companies are becoming a threat to the livelihood of lakhs of people. At the same time, in the current policy, 100 percent FDI is allowed in the marketplace model of e-commerce. However, this is not applicable for models with inventory. The government has put a ban on keeping inventory for e-commerce companies through notifications.
