DIPP forwards concerns raised by All India Online Vendors Association to RBI

New Delhi, Mar 29 (KNN) The Department of Industrial Policy and Promotion (DIPP) has forwarded the concern raised by All India Online Vendors Association (AIOVA) regarding violation of FDI Policy by e-commerce companies to Reserve Bank of India (RBI).

In a letter, posted by DIPP on twitter, AIOVA was informed that, “As regards issue of violation of FDI Policy, it is stated that…this Department formulates FDI Policy  across the sectors including on e-commerce which gets notified under FEMA, 1999 by RBI. RBI administers the FEMA and Directorate of Enforcement under the Ministry of Finance is the authority for the enforcement of FEMA.”

The letter further said, “The other issues raised in your representation  dates 21.9.2016 were referred to the Committee constituted under the CEO, NITI Aayog to look into various aspects of e-commerce in India. Representatives of AIOVA also made a representation before the said Committee. The said Committee is yet to submit its report on the matter.”

The commerce ministry has forwarded the All India Online Vendors Association's (AIOVA) complaints about violation of FDI policy by e-commerce players to the Reserve Bank of India, as per a letter from the commerce ministry.

AIOVA has been seeking help from the government over multiple issues the association has had with leading e-tailers.

AIOVA, claims to have about 2,200 sellers on its platform, has been seeking help from commerce minister Nirmala Sitharaman regarding troubled e-tailers including Snapdeal, Best DealTV, and Askeme Bazaar in the absence of a grievance redressal system. (KNN Bureau)