No changes in FDI policy for e-commerce, clarifications soon: P Goyal

The government will not make any changes in the much talked-about foreign direct investment (FDI) policy for e-commerce, said Union Commerce Minister Piyush Goyal on Friday, adding that they will soon come up with further clarifications on the policy.

Addressing the media here, Goyal, who also handles the Consumer Affairs portfolio, said that consumers are the priority for the government and hence, it has recently come up with the draft e-commerce rules for consumer protection.

After these rules are finalised, the government will come up with the much-anticipated e-commerce policy, he said.

“We will also come out with the e-commerce policy and whatever clarification (is required). We are not changing any policy on e-commerce for foreign direct investment,” he said.

Observing that the policy has been crystal clear ever, Goyal said that certain instances of violation of the policy have cropped up. “We will obviously be clarifying that very shortly,” he said.

As per the new draft e-commerce rules released by the government last month, flash sales have been prohibited. Further, they suggest that no e-commerce entity shall allow any display or promotion of misleading advertisements, whether in the course of business on its platform or otherwise.

Public comments on the draft rules have to be submitted by July 6.

On the foreign trade policy, Goyal expressed hope that the policy should be released by October.

“We had to delay it because of the second wave of Covid and we hope to come out with it by October.”

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