Sitharaman meets stakeholders on FDI in e-commerce

Sitharaman said she is also considering meetings with some state governments on the matter

 

Commerce Minister Nirmala Sitharaman on Thursday held consultations on foreign direct investment policy in e-commerce with stakeholders, including e-retailers Flipkart and Snapdeal and industry associations, especially whether FDI should be allowed in the business-to-consumer (B2C) category.
 
"It was the first meeting. We are not taking any position this way or that way from the ministry. We have heard everybody on whether they need or do not need FDI, and whether it will affect the level playing field," Sitharaman told reporters here.
 
"In fact, this is not going to be sufficient. I need more meetings with everyone, individual operators and associations," she added.
 
Sithraman said she is also considering meetings with some state governments on the matter.
 
"I may have meetings with state governments also to understand how they have taken a position because it is important for me to know in each of these cases what is the issue," she said.
 
India currently allows 100 percent FDI in business-to-business (B2B) e-commerce, but not in B2C companies selling directly to consumers.
 
Sitharaman said stakeholders raised issues related to taxation, definition and inclusion of e-commerce within the framework of the domestic trade policy.
 
Representatives from industry organisations CII, FICCI, Nasscom, the Confederation of All India Traders, and companies such as eBay, Snapdeal, Decathlon, H&M, and Ikea attended the meeting.
 
"CII is of the view that e-commerce in India is at relatively nascent stage and the market is yet to attain full maturity level," the industry chamber said in a statement here after the meeting.
 
"While CII is favourably inclined towards 100 percent FDI in B2C route, the sector should be given some time to come to a level where it can compete globally," it added.
  • User 

    MPs ask aviation minister to stop air fare cartelisation

    Led by Bharatiya Janata Party (BJP) MP and chairman of parliamentary committee on energy Kirit Somaiya, the MPs expressed their concern over the conduct of airlines and asked the government to stop the arbitrary fare hike by Indigo, Jet Airways and others

     

    A group of 20 members of parliament on Wednesday submitted a representations to Civil Aviation Minister Ashok Gajapati Raju to look the exploitation of passengers by the airlines.
     
    Led by Bharatiya Janata Party (BJP) MP and chairman of parliamentary committee on energy Kirit Somaiya, the MPs expressed their concern over the conduct of airlines and asked the government to stop the arbitrary fare hike by Indigo, Jet Airways and others.
     
    "As there is no proper forum, regularisation, redressal system, the air companies used the monopolistic atmosphere, go for cartelsation and exploit the air travellers," the MPs alleged in the representation.
     
    In summer, Diwali and Christmas vacations fares are hiked in monopolistic manner, it added.
     
    Somaiya told IANS that the minister has assured the MPs that he would try to find ways.
  • User 

    Nokia Networks may look at India for producing 5G telecom systems

    Nokia Networks in India will work as an independent unit and compete against Alcatel Lucent till the clear signal on integration is obtained from the headquarters

     

    Finnish telecom broadband infrastructure software and services provider Nokia Networks will consider India as one of the production bases for making 5G telecom systems, said a senior company official on Wednesday.
     
    Though Nokia Corporation had recently announced of an agreement with Alcatel Lucent to acquire it, Nokia Networks in India will work as an independent unit and compete against Alcatel Lucent till the clear signal on integration is obtained from the headquarters.
     
    "We have been making equipments for 4G for quite some time here. The commercial implementation of the 5G is expected to be in 2018. Where the 5G network equipments would be made would be decided later," Satendra Singh, head of manufacturing operations, India, told reporters here.
     
    He did not rule out explicitly that India being a production base for the 5G technology.
     
    According to him, Nokia Networks would have to invest in testing equipments when it makes systems for 5G.
     
    According to Karl Kirschenhofer, vice president, manufacturing operations, global, the company will be developing the 5G network and activities towards that have started.
     
    He said the technology is being standardised and the first commercial implementation is expected to be in 2018 during the winter Olympics. Nokia Networks have signed an agreement with telecom player Docomo.
     
    Sandeep Girotra, head, India region, said the 5G would be mainly on internet of things.
     
    On Nokia Networks plans to increase the local content from the current 20 percent upwards, Kirschenhofer said over a three year period the localization levels in India is expected to be in the region of 45 percent.
     
    Queried about the impact on hiring and retaining talent by Nokia Networks after the closure of Nokia's mobile plant near here, Girotra said there is no impact on the employee front.
     
    The company is getting the required talent and is not losing out talent. On Wednesday Nokia Networks rolled out the two millionth unit since the plant started operations seven years back.
     
    According to officials, nearly one third of the production is shipped overseas.
     
    Earlier speaking at the function to commemorate the two million unit production achievement Amitabh Kant, secretary, department of industrial policy and promotion, said the slogan `Make in India' is not for making a protective market but to make India a part of the global supply chain. He said the government is focused on making India an easy place to do business.
     
  • User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)
    FREE: Your Complete Family Record Book
    Keep all the Personal and Financial Details of You & Your Family. In One Place So That`s Its Easy for Anyone to Find Anytime
    We promise not to share your email id with anyone