Betting big on the e-commerce industry,Commerce and Industry Minister Nirmala Sitharaman discussed various issues related to foreign direct investment (FDI) in the online-commerce sector with several stakeholders, including Flipkart, Snapdeal and industry
New Delhi: After receiving "many complaints" from traders on Flipkart's massive discount sale, the government on Friday said it will look into the concerns and take a call on whether more clarity is required on e-commerce retail business.
Clearing government stand on FDI in multi-brand retailing, Commerce and Industry Minister Nirmala Sitharaman today said the NDA government will not "entertain" foreign direct investment in multi-brand retail.
"As per the extant FDI policy, FDI up to 100 per cent is permitted in single brand retail trading. No decision on FDI in multi-brand retail trading has been taken," Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sab