Government likely to announce foreign direct investment in e-commerce next month

Sasta · Jun 4, 2014

More trouble in sight for Flipkart, good news for the rest.
http://economictimes.indiatimes.com...e-next-month-sources/articleshow/36047340.cms

MUMBAI/NEW DELHI: Prime Minister Narendra Modi's government could allow foreign direct investment in e-commerce sector as early as next month, paving the way for global online retailers such as Amazon to expand their business, four people with knowledge of the matter told.

The decision, which is likely to be announced in the budget, is one of the first tangible signs of economic reform by the business-friendly government of Prime Minister Narendra Modi, who was sworn in 10 days ago.

The move is also likely to allow the government to circumvent political opposition to opening up India's $500 billion retail sector to global retail giants such as Wal-Mart Stores Inc.
Four people privy to discussions within the government told Reuters that officials believed a more robust online retail sector would spur manufacturing and consumption, helping revive an economy that has been growing at below 5 percent for two years, the longest period of sub-par expansion since the late 1980s.

"Most stakeholders support FDI (foreign direct investment)," said a senior government official, referring to e-commerce. "We have pitched for opening it up completely."..........
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Government likely to announce foreign direct investment in e-commerce next month

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Government likely to announce foreign direct investment in e-commerce next month

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