- Ministry of Commerce has called for a meeting between various e-commerce companies including Flipkart, Amazon, and industry chambers such as CCI, FCCI to discuss about FDI in e-commerce and its impact on the manufacturing sector in India.
- This move came following a report by Department of Industrial Policy and Promotion on the possible impacts on FDI including:
- Pros:
- It will boost the infrastructure development
- Cons:
- Create large scale job issues
- Impact the already declining manufacturing sector
- While it would allow medium and small medium economies and artisans to reach out to a wider customer base, both within India and abroad, it would be against the spirit of FDI policy in multi-brand retail trading (MBRT).
- Last year, govt allowed 51% FDI in MBRT.
- Read at: http://www.thehindu.com/todays-paper/tp-business/fdi-in-ecommerce-industry-meeting-on-may-15/article6006817.ece
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