by Apparel Resources News-Desk
26-June-2019 | 2 mins read
The Government is planning to release a national e-commerce policy within 12 months in order to facilitate achieving holistic growth of the sector.
This was informed by Commerce and Industry Minister Piyush Goyal in his second marathon meeting with stakeholders, including e-commerce companies. The Government was in the process of reviewing it after the e-commerce policy draft announced in February drew industry flak.
The February draft proposed setting up a legal and technological framework for restrictions on cross-border data flow and also laid out conditions for businesses regarding collection or processing of sensitive data locally and storing it abroad.
Even as a comprehensive policy is expected around the middle of 2020, the Government has said that there would be no changes in the foreign direct investment (FDI) rules in the sector.
“Companies who participated (in the meeting) agreed with this. They confirmed unequivocally that the Press Note 2 of 2018 on FDI in e-commerce was only clarificatory in nature and did not change the provisions in the FDI policy,” an official added.
- e-commerce firms like Flipkart, Amazon, Snapdeal, Paytm, eBay, Makemytrip, Swiggy and others attended the meeting.
Flipkart CEO Kalyan Krishnamurthy in a statement said the company appreciates the Government’s efforts to “engage in candid, positive and progressive discussions aimed at creating a vibrant e-commerce market and Digital India.”
A Walmart spokesperson also appreciated the multiple consultative meetings that Goyal hosted with business leaders.
The government has also formed a committee for making an e-commerce policy. Under the authority of the Department for Promotion of Industry and Internal Trade (DPIIT), it will be headed by the additional secretary, with representatives from the commerce department and ministries of MSME and Consumers Affairs besides legal experts as members.
The draft National Retail Policy will be released in the next 10 days.
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