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RAI cautiously optimistic on e-com FDI rule implementation
12 Nov '19
1 min read
Pic: Shutterstock
The Retailers Association of India (RAI) has expressed cautious optimism on the effective implementation of the foreign direct investment (FDI) rules related to the e-commerce sector after clarifications related to those were issued by the department of industrial policy and promotion (DIPP) under the ministry of commerce and industry in December last year.
The association is ‘cautiously optimistic’ about the implementation of press note (PN) 2 and the rules are just perfect, offering a level-playing field for retailers, if the laws are enforced properly, RAI chief executive officer Kumar Rajagopalan told a news agency.
While RAI has seen ‘some action on implementation’, enforcing the law is a ‘challenge’, he said.
The Centre had not extended the timeline for enforcing the new rules from February 1, 2019, and also asked companies to file audit reports by September 30.
Domestic retailers made several complaints about misuse of FDI by some e-commerce companies engaging into back door multi-brand retailing and deep-discounting, he alleged.
The association is ‘cautiously optimistic’ about the implementation of press note (PN) 2 and the rules are just perfect, offering a level-playing field for retailers, if the laws are enforced properly, RAI chief executive officer Kumar Rajagopalan told a news agency.
While RAI has seen ‘some action on implementation’, enforcing the law is a ‘challenge’, he said.
The Centre had not extended the timeline for enforcing the new rules from February 1, 2019, and also asked companies to file audit reports by September 30.
Domestic retailers made several complaints about misuse of FDI by some e-commerce companies engaging into back door multi-brand retailing and deep-discounting, he alleged.
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