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Govt receives requests for removal of ban on e-com retail

Updated: Mar 07, 2013 09:07:24pm
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New Delhi, Mar5 (KNN) The government has received requests to remove ban on e-commerce retail activities by the companies which have Foreign Direct Investment in them.
The request comes in the wake of government allowing FDI in multi-brand retail, paving the way for global giants like Walmart and Tesco to open stores in India.
As per the present norms, e-commerce companies engaged in business-to-business trade, like selling material or bulk product to business firms are allowed to bring in up to 100 per cent FDI. 
But those with FDI are not allowed to engage in business to consumer segment.
“The potential for this sector is huge in the country even in the rural areas,”Assocham Secretary General, D S Rawat said.  “Estimated revenue from this sector is expected to be about $15 billion by 2015 and can lead to wider reach of farmers and other domestic product firms, helping them realise better value of their products,” he added.
 China has allowed over 500 Chinese companies to export through global website. (KNN)

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