India has prepared a draft of national e-commerce policy which takes into account interests of all stakeholders like investors, manufacturers, MSMEs, traders, retailers, startups and consumers, Minister of Commerce and Industry Piyush Goyal said on Wednesday.
The draft policy addresses six broad areas of e-commerce ecosystem: data, infrastructure development, e-commerce marketplaces, regulatory issues, stimulating domestic digital economy and export promotion through e-commerce.
The draft policy has been placed in the public domain, Goyal said in a written reply to the Lok Sabha, adding many countries have given suggestions. The United States has flagged issues of US businesses.
The FDI policy on e-commerce, first pronounced through Press Note 2 of 2000, permitted 100 per cent FDI in B2B e-commerce activities. To clarify the policy framework, extensive stakeholder consultations were held and Press Note 3 was issued by the Department for Promotion of Industry and Internal Trade in 2016.
B2C e-commerce, that is multi-brand retail through an inventory-based model, has all along remained prohibited for FDI.
Through the Press Note 2 of 2018 issued on December 26, the government reiterated the policy provisions to ensure better implementation of the policy in letter and spirit without making any change in the underlying principle, said Goyal in the reply.
Disclaimer: No Business Standard Journalist was involved in creation of this content
