PHDCCI urges govt to issue clarification on FDI policy in e-commerce sector

Industry body PHDCCI has urged the government to issue clarifications on the foreign direct investment (FDI) policy in the e-commerce space and plug loopholes to promote the sector.

In a letter to Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Anurag Jain, the chamber said the loopholes in the current policy are being exploited by online retailers to carry out inventory-based e- commerce/multi-brand retail trade in the garb of running marketplace platforms.