TIL Desk/Business/Bengaluru/ The revised Foreign Direct Investment (FDI) policy on e-commerce would ensure balanced growth of the online industry with gains for both sellers and buyers, said leading e-tailer Snapdeal. “The update to the FDI policy on e-commerce will ensure balanced growth of India’s e-commerce industry, creating lasting gains for both sellers and buyers,” Snapdeal Chief Executive Kunal Bahl told.
The FDI in marketplaces is meant to enable growth of India’s micro, small and medium enterprises (MSMEs) and the changes in policy will help create a level playing field for all sellers, Bahl said. The Ministry of Commerce and Industry on Wednesday issued revised policy guidelines on FDI in e-commerce.
The revisions barred e-tail firms from selling products of companies in which they have stakes, prohibited the firms from mandating any company to sell its products exclusively on their e-commerce platforms alone.
The revised policy, which will be in force from February 1, 2019, also prevents the digital retail portals from directly and indirectly influencing the price of goods and services, so as to maintain a level-playing field for online and offline sellers.
