News:The Competition Commission of India(CCI) has released a Report titled ‘Market Study on E-commerce in India: Key Findings and Observations’. Facts: Key takeaways from the study: The E-Commerce Sector was established in 2009.However, the sector gained momentum in 2014. In 2017, the sector held 3,500 million USD investment.There are around 4757 E-commerce start-ups in India… Continue reading CCI Releases ‘Market Study on E-commerce in India’
Tag: E commerce sector
Audit for FDI norms must for e-com firms
News:The government has issued new rules that makes it compulsory for e-commerce companies with foreign investments to submit an audit report every year. Facts: About the new rules: The rules will be applicable on E-commerce companies with foreign investments such as Amazon, Flipkart among others. These companies have to submit a report prepared by statutory… Continue reading Audit for FDI norms must for e-com firms
Compliance of FDI norms: RBI to unveil report submission mechanism soon
The Reserve Bank of India(RBI) is expected to come up with a mechanism for e-commerce marketplaces to submit their reports proving compliance with the FDI guidelines. According to the FDI norms by the Department for Promotion of Industry and Internal Trade (DPIIT),an e-commerce marketplace entities are required to furnish a certificate along with a report… Continue reading Compliance of FDI norms: RBI to unveil report submission mechanism soon
DPIIT to soon float draft national retail policy to seek stakeholders’ views
The Department for Promotion of Industry and Internal Trade(DPIIT) will soon introduce draft national retail policy.The policy is aimed at promoting growth of 65 million small traders. The main elements of the policy includes (a)promoting ease of doing business (b)licensing (c)access to funds (d)direct selling and (e)hyper-market related matters. This policy is expected to cover… Continue reading DPIIT to soon float draft national retail policy to seek stakeholders’ views
Won’t allow FDI in multi-brand retail, predatory pricing: Goyal
Commerce and industry minister has said that the government would not allow multi-brand retail trade by foreign e-commerce companies. In 2018,Department for Promotion of Industry and Internal Trade (DPIIT) had tightened the foreign direct investment (FDI) rules for ecommerce companies The new rules were (a)If an entity is owned by an e-commerce marketplace(ECM),it cannot sell… Continue reading Won’t allow FDI in multi-brand retail, predatory pricing: Goyal
E-com firms take up data localisation issues with Goyal
Recently,Commerce minister has met industry stakeholders on e-Commerce and data localisation issue. During the meeting,the industry raised concerns around data localisation rules which requires storing of customer data exclusively in India without creating mirror sites overseas. In April 2018,Reserve Bank of India(RBI) had asked payment firms to ensure their data are stored exclusively on local… Continue reading E-com firms take up data localisation issues with Goyal
Lesser clicks, a boon for bricks
The Department of Industrial Policy & Promotion new rules on the foreign direct investment (FDI) policy for e-retail has benefitted the offline retailers also known as brick and mortar (B&M) retail sector. Brick and mortar(B&M) refers to businesses that are bound to a physical space,like a specific building that customers go to in order to… Continue reading Lesser clicks, a boon for bricks
