Piyush Goyal, Minster of Commerce and Industry, has said the government does not intend to amend current foreign direct investment policy in e-commerce sector though it plans to issue certain clarifications shortly. Goyal said, the government will soon introduce new ecommerce policy besides clarifications on existing FDI policies for the e-commerce sector after it finalizes the draft consumer protection rules for the sector.
The consumer protection rules encompass consumer affairs, FDI policy and e-commerce policy, adds Goyal. They focus more on the Indian consumers than the foreign investors. The rules are open for public discussions till July 6. In December 2020, the commerce and industry ministry urged the Reserve Bank of India (RBI) and the Enforcement Directorate (ED) to take necessary action in response to allegations made by the traders' body Confederation Of All India Traders (CAIT) against Amazon and Flipkart regarding the breach of regulations.
