March 26, 2021 2:00:46 am
A section of e-commerce players has urged the government to maintain stability in policy, emphasising the fact that their businesses have been structured in line with the present regulations, a source aware of the discussions said. The deliberations took place in a meeting between the Department for Promotion of Industry and Internal Trade (DPIIT) and online companies on Thursday to discuss the FDI policy in e-commerce.
At least a dozen companies including Amazon, Flipkart, Reliance, Snapdeal, Paytm, Tata Cliq, Grofers and Pepperfry attended the meeting. Already, the second Covid wave may deter many investors from going aggressive on funding, the source said. “Companies like Paytm and Tata Cliq maintained a neutral tone. They said the policy should be fair and transparent for all. Surprisingly, however, any discussion did not take place on discounting practices,” the source added.
All the companies are now expected to officially give their individual submissions to the DPIIT in a week. “The FDI policy needs to be stable and predictable for investor confidence as any disruption in business will impact millions of livelihoods and jobs, have negative consequences on downstream suppliers and service providers including MSMEs, startups and offline stores which have barely recovered from the setback of Covid,” Amazon India said. —FE
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