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ecommerce companies

Dec 09, 2019, 01.49 PM IST

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ECOMMERCE COMPANIES

Government considering e-commerce policy, no timeline fixed, says Goyal

Piyush Goyal said that a draft policy covering various areas of e-commerce has been prepared and put out in public domain for comments.

Govt asks e-commerce firms to file FDI compliance report annually

"Against Sl. No. 15.2.3, for entry (p), the following entry shall be substi...

India ranks 73rd in UN index assessing e-commerce readiness

The United Nations Conference on Trade and Development's Business-to-Consumer (B2...

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  • Highlighting that India's exports could rise by about half a percentage point and income by 0.2% from trade diversion due to trade conflict between other countries, it cautioned worsening trade conflict leading to a slump in investor confidence to push more than 31 million people into poverty.

    Sept 30 every year is the deadline for ecomm firms to ready their annual compliance reports as per FDI norms.

    MSME Minister Nitin Gadkari on Thursday said that he is to meet SBI Chairman next month to discuss whether the bank can jointly run an e-commerce portal called Bharat Craft, meant for taking Indian MSMEs to the global platform. “For the first time, after our govt came to power, we are readying a portal called Bharat Craft,” Gadkari said

    Owing to the media reports on Chinese e-commerce companies shipping cheap products to customers in India directly from China, Club Factory’s founder, Vincent Lou said that the company's business operations are in alignment with Indian laws. The Indian government does not allow foreign e-commerce companies to sell directly to consumers.

    Speaking at the 2019 ET Awards, Commerce Minister Piyush Goyal says foreign e-commerce companies cannot exercise predatory pricing just beca...

    A survey by digital payments company PayPal and market research firm Ipsos has found that adoption of social commerce in India is at a higher scale than the rest of the world. Digitisation has led to innovative use of online transactions which is why 62% of businesses in India accept online payments compared to 55% global average.

    E-commerce companies cannot influence prices of products being sold on their platform and must adhere to fair trade practices, as per the dr...

    "Some representations have been received in this department, complaining that e-commerce companies are offering deep discounts, indulging in predatory pricing, engaging in B2C business, exercising control over inventory and influencing the prices of goods sold on the platform," Piyush Goyal told Rajya Sabha.

    The all-cash deal will see the company eventually acquiring about 45% in Gati through a direct purchase of the promoters’ stake and a subsequent open offer. It values the company at about Rs 1,000 crore. Allcargo is funding this deal through a mix of internal accruals and debt. Internal accrual is through monetisation of non-core assets including land parcels.

    Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT) also urged Prime Minister Narendra Modi to constitute a Group of Ministers (GoM) to look into the alleged distortions, both in the e-commerce and brick & mortar format of retail.

    Department of Industrial Policy and Promotion under Ministry of Commerce and Industry had issued clarifications in December last year pertaining to FDI rules in the e-commerce sector. Now that the govt is tightening the rules for foreign direct investment in e-commerce sector, Retailers Association of India is "cautiously optimistic" on its effective implementation.

    Traders' body CAIT has welcomed the draft rules and said the proposed framework will "force" e-commerce companies to be more transparent and accountable towards customers. As per the draft, an e-commerce entity should not "directly or indirectly influence the price of the goods or services" and "maintain a level-playing field".

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