- Friday, April 26, 2024
By: Shubham Ghosh
AMID relentless complaints from the country’s domestic traders alleging violations of foreign direct investment (FDI) norms by foreign online players, India’s commerce and industry player Piyush Goyal on Friday (2) said his ministry will come out with certain clarifications on the e-commerce sector “very shortly”.
Goyal added that the ministry is not changing any policy on e-commerce for FDI since the policy is crystal clear.
“We will also come out with the e-commerce policy and whatever clarifications… Certain instances have come to our notice where the policy is not being followed in letter and spirit, we will obviously be clarifying that very shortly,” Goyal, who holds India’s railway ministry, said.
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The statement was being considered significant as Goyal recently said that all e-commerce companies should abide by the law of the land and not resort to muscle or money power to hurt Indian interests since many of these large online companies have “very blatantly” flouted the laws.
He added the consumers affairs ministry recently said draft e-commerce rules under the consumer protection law and the final rules will be issued after getting the stakeholders’ views.
“This is a series which involves consumer affairs, the FDI policy, and e-commerce policy. We wanted to come with the consumer protection rules of e-commerce first because we believe that our most important stakeholder is the consumer and we wanted to make sure that consumer protection prevails over everything else,” Goyal said.
