The department of industrial policy and promotion has held a series of meetings regarding this matter, involving retailers, bankers and business chambers, business-standard.com reports. The meeting was chaired by its secretary, Amitabh Kant.
Minister of commerce and industry Nirmala Sitharaman is expected to meet all major ecommerce entities in the near future, to garner their views. The recent meetings were attended by representatives from Future Retail, Flipkart, Snapdeal, Walmart, H&M, the US India Business Council, Retailers Association of India, Confederation of Indian Industry (CII) and Confederation of All India Traders (CAIT), among others.
Rakesh Biyani, joint managing director, Future Retail, concluded that the government must issue clearer regulation on what concerns retail business. However, there was no headway on the issue of easing the FDI policy to allow foreign retailers in the business-to-consumer (B2C) segment. The government has decided to take the matter to the states for their viewpoint on whether or not FDI in retail ecommerce should be allowed.
It is known that Sitharaman will be meeting representatives from all the key states to explore a common ground on this issue. Sitharaman had a similar meeting last month. The government might hold more such meetings.
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