Assocham calls for FDI limit of 51% in online retail

Assocham calls for FDI limit     of 51% in  online retail

Lobbying for a level playing field for FDI in online and offline retail, The Associated Chambers of Commerce and Industry (Assocham) appealed to the Union Minister of State for Commerce & Industry, Nirmala Sitharaman to review the possibility of allowing 51-100 per cent FDI in online retail.

A letter by Assocham Secretary General, D S Rawat to the minister said, “The industry feels that allowing 51 per cent FDI in offline multi-brand retail trading is an unfair policy as it makes a distinction between two arms of retail, one of which in fact is the manifestation of modern retail.”

“The industry is of the opinion that the government should review the possibility of allowing 51 per cent to 100 per cent  FDI in the online retail space. Currently there is no possibility of an e-Commerce company, to access foreign direct investment for their venture,” the letter stated.

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