 "Arun Jaitley")
A Retailers Association of India (RAI) delegation, with Future Group chief Kishore Biyani, met Finance Minister Arun Jaitley to ask for "a level playing field for retailers and e-commerce players, with uniformity in policy".
The delegation had seniors from Future Group, Shoppers Stop, Tata's, Aditya Birla Group and Landmark Group.
RAI said they emphasised the need to support Indian-managed, Indian-owned retailing for accessing global capital up to 49 per cent of equity holding, without restrictions. Also, the need for unified foreign direct investment (FDI) policy for 'retail trade', with e-commerce to be treated as a subset.
Biyani brought up the 'hefty discounts' issue on e-commerce platforms, beside FDI norms for the sector.
Earlier this year, the government had allowed 100 per cent FDI through the automatic route in most of e-commerce retailing. However, an e-commerce entity was not to be permitted to have more than 25 per cent of total sales from one vendor or its group companies.
An official said views of various stakeholders are being taken on the matter. NITI Aayog is said to be preparing a report on the matter. Sources said on Thursday evening, various departments had a meeting on the issues in the prime minister's office.
In June, the government allowed 100 per cent FDI in trading of food products, including through e-commerce, to boost the food processing sector. Foreign retailers may sell food products produced and manufactured in India.
Thursday's meeting with Jaitley was against the backdrop of a controversy over advertisements for discounts by online retailers. The guidelines say e-commerce players providing a marketplace will not directly or indirectly influence the sale price of goods or services. However, to take advantage of the festive season, e-retailers Amazon, Flipkart and Snapdeal have gone for an aggressive media blitz, to attract consumers.
