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Regulatory Authority For E-commerce is Badly Needed
The retail industry has welcomed the latest amendment in FDI policy. This development will certainly help MNCs such as Apple, Xiaomi and OPPO to scale up their presence in the country.
Big retailers such as Westside, Big Bazaar, and Pantaloons amongst others are growing exponentially in smaller towns.
GST is the landmark tax reform that has power to reshape the retail industry by ushering the era of single tax regime.
There are few areas which has indirectly lead to growth in E-com like development in digital payment, development of secure and platform agnostic payment gateway(UPI), demonetization, simplification of taxation, GST, infrastructural growth etc.
As per the plan chalked by the department, it has to launch around thousands of stores in six months, which is a herculean task.
In 2014–15, Indian handicrafts exports stood at US$ 4.5 billion, up approximately 15.4 per cent over the previous year’s exports.
Although the current FDI policy permits foreign players to hold 51 per cent stake in an Indian company, BJP had opposed foreign investment in this segment in its election manifesto.
The toughest problem that the retailers are facing in terms of brands is counterfeiting: Raghu Pilaka
According to Mint 2014 report, the Indian market for fake luxury labels, including handbags, watches and perfumes, is growing at twice the growth rate of genuine luxury products.
GCCI has made the presentation elaborating on the needs for Gujarat retail trade policy.
While the government has signed MoU (Memorandum of Understanding) with eCommerce major Flipkart, it has partnered with many others including Amazon India, NDTV Ethnic Retail, Craftsvilla to spur reach of handloom market.
The Seva will provide people with timely response from the Government on questions about funding, regulation for start-up companies.
Prime Minister Narendra Modi’s policies and laws related to eCommerce, under his ‘Start-Up India, Stand-Up India’ initiatives have been well received by the start-up community.
The partnership allows the eCommerce player to engage with weavers in Kota, Rajasthan; Nadia in West Bengal; Bargarh, Odisha and Bijoynagar of Assam.