No multi-brand retail trade by foreign companies: CIM
In a meeting with e-commerce companies, Minister of Commerce & Industry Shri Piyush Goyal asserted that the Government of India will not allow multi-brand retailing by foreign companies. He added that they can only be an agnostic platform in the meeting which was attended by giants like Amazon, eBay and Walmart-owned Flipkart. The Minister has engaged in multiple meetings with the industry on India’s e-commerce norms, which include issues like relative strengths and weaknesses of Indian companies, cross-border data flows, threats from foreign competition, level playing field and anti-competitive practices like predatory pricing. The Minister has also asked e-retail companies to submit their concerns on the draft e-commerce policy in 10 days.