 "Govt likely to announce FDI in e-commerce next month")
Narendra Modi government could allow foreign direct investment in the e-commerce sector as early as next month, paving the way for global online retailers such as Amazon to expand their business, four people with knowledge of the matter told Reuters.
A more robust online retail sector will spur manufacturing and help an economic revival, said the people, who are privy to discussions within the new government. An announcement is expected in next month's budget.
Currently global online retailers are banned from selling goods directly to customers but govt allows them to own 100% of a marketplace business, where third-party suppliers can use their platform. Both Amazon and eBay use such a platform to operate in the country.
When asked about the decision, a spokesman in commerce and industry ministry declined to comment.