Global online retail giant Amazon.com, on Tuesday, sought opening of foreign direct investment (FDI) in the e-commerce sector as present policy restricts such companies from offering services directly to the consumers.
The issue came up for discussion during a meeting between Commerce and Industry Minister Anand Sharma and Amazon Global vice-president, Paul E. Misener, here. Currently, 100 per cent FDI is allowed only in business to business (B2B) e-commerce, and not in retail trading. “We talked about it,” Mr. Misener told newspersons, when asked whether he had sought a change in the policy for retail e-commerce during his meeting with the Commerce Minister.
“We talked to the government officials on all kinds of issues. We are trying to find a better way to serve our Indian customers, both sellers and buyers. We have nearly 9,000 employees here in the country, and we are looking ways to better serve our customers. The Government has been very kind to Amazon.com, and we continue to grow here,” he added.
India allows 100 per cent FDI in single-brand retail stores and 51 per cent FDI in multi-brand retail, subject to sourcing conditions.