‘Decision on Air India will send message to global investors’
Allowing foreign airlines to own up to 49 per cent stake in Air India is a “considered decision” and will…
The government is considering to make a few amends to the norms laid for e-commerce companies having FDI to prohibit them from selling products of vendors in which these online marketplaces or their parent firms hold stake indirectly, a PTI report said.
In 2018, the centre had barred e-commerce platforms like Amazon and Flipkart, from selling products of companies in which they have a direct stake.
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The decision was taken after the domestic trader’s body Confederation of All India Traders (CAIT) alleged that these e-commerce firms are violating FEMA and FDI rules.
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According to CAIT, the commerce and industry ministry has forwarded representations of alleged violations by Amazon and Flipkart to the Enforcement Directorate and the Reserve Bank for “necessary action”.
As per the current policy, 100 per cent FDI (foreign direct investment) is permitted in marketplace e-commerce but it is prohibited in inventory-based activities.
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