Better enforcement of FDI policy on e-commerce will contribute to growth of sector: MoCI

New Delhi, Feb 4 (KNN) Better enforcement of FDI policy on e-commerce will contribute significantly to growth of the sector over medium and long term, said C. R. Chaudhary, Minister of State for Commerce and Industry.

The e-commerce sector is expected to keep growing in future because of a number of reasons. The FDI policy on e-commerce has also remained unchanged, he added.

In order to ensure due compliance with the FDI policy on e-commerce, the ministry has issued norms putting in place certain conditions. 

As per those conditions, an entity having equity participation by e-commerce marketplace firm or its group companies will not be permitted to sell its products on the platform run by such marketplace entity. 

E-Commerce marketplace entity will not mandate any seller to sell any product exclusively on its platform only, Chaudhary said.

Stakeholder consultations on creating a framework for National Policy on e-Commerce with representatives from Government Ministries, Departments, Reserve Bank of India, industry bodies, e-commerce companies, telecom companies, IT companies and payment companies have been held. Issues regarding the e-commerce sector are regularly reviewed by the Government, Chaudhary said.

Chaudhary has given this information in written replies at the Lok Sabha.