Centre won’t change FDI policy for e-commerce sector: Commerce Minister Piyush Goyal | India News

Centre won’t change FDI policy for e-commerce sector: Commerce Minister Piyush Goyal | India News

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New Delhi: Commerce Minister Piyush Goyal on Friday (July 2) cleared that the Centre is not looking to bring any changes in the existing FDI policy for the e-commerce sector as the current policy is crystal clear, adding that the biggest priority for the government is to protect the interests of 130 crore consumers of the country. The union minister also reiterated that foreign e-commerce companies such as Amazon and Walmart-owned Flipkart will have to follow the law of the country.

Goyal also pointed out that the ministry has received several complaints that foreign ecommerce companies are not following the rules. In several instances, CAIT, one of the largest traders’ organisations in the country, has complained that e-commerce majors Amazon and Flipkart are flouting the current FDI norms. 

“We will also come out with the e-commerce policy and whatever clarifications… Certain instances have come to our notice where the policy is not being followed in letter and spirit, we will obviously be clarifying that very shortly,” he said. 

Recently, Goyal had warned foreign e-commerce companies not to use muscle or money power to hurt Indian interests. He had alleged that many of these large online firms have come into India and “very” blatantly flouted the laws. Also Read: Centre imposes stock limits on pulses to tame rising prices, rule applies to wholesalers, retailers, millers and importers

“We wanted to come with the consumer protection rules of e-commerce first because we believe that our most important stakeholder is the consumer and we wanted to make sure that consumer protection prevails over everything else,” the minister said. Also Read: Virat Kohli strikes gold, startup backed by cricketer now valued at Rs 26,000 crore

– With inputs from PTI. 



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