The Government is not considering any plans to introduce foreign direct investment (FDI) in e-commerce retail, Parliament was informed on Wednesday.
“No such proposal is under consideration of the government,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Rajya Sabha. She was replying to a question whether Government plans to introduce FDI in e-commerce retail. The ministry is holding stakeholders consultations with industry and states on the issues related with e-commerce such as its definition, said the minister.
“The term 'e-commerce retail' has not been defined in the extant FDI policy. However, as per extant FDI policy, e-commerce activities refer to the activity of buying and selling by a company through the e-commerce platform,” she said.
Replying to a separate question on National Industrial Corridor Development Authority, she said the ministry is planning to take Cabinet approval for constitution of NICDA.