World’s largest online retailer Amazon.com has urged the Government of India to relax norms for foreign direct investment (FDI) in business-to-consumer (B2C) ecommerce.
At present, India’s FDI policy does not allow FDI in B2C ecommerce and easing of rules would enable global online retail firms to sell directly to consumers in India.
In September last year, while notifying the decision to allow FDI in multi-brand retail sector, the Indian Government made it clear that the companies with FDI would not be permitted in retail trading by means of ecommerce.
Speaking to reporters after his meeting with India’s Commerce & Industry Minister Anand Sharma, Mr. Paul E Misener, global vice president of Amazon, said, he had discussed the issue of relaxing FDI rules on B2C ecommerce with the Minister.
Amazon is trying to find a better way to serve Indian customers, both sellers and buyers, and all kinds of issues were discussed with the Indian officials, Mr. Misener said.
Founded in 1994, Amazon is an American multi-national company that operates separate retail websites for nations like United States, Canada, United Kingdom, France, Germany, Austria, Italy, Spain, Japan and China.
Last December, Amazon forayed into the world of fashion by launching its maiden online apparel retail outlet, meant only for its UK customers.
The online shop offers apparels from finest designer brands like 7 For All Mankind, Pringle and Black Orchid and its recently launched collections include a wide array of lingerie, jeans, coats, jackets, t-shirts and dresses.