Tuesday, May 17th, 2022 07:13:33

SJM welcomes Govt decision to exclude e-commerce from relaxation & changes in FDI rule 

Updated: April 20, 2020 2:42 pm
RSS affiliate Swadeshi Jagaran Manch (SJM) welcomes the Ministry of Home Affairs (MHA) decision to exclude the e-commerce and movement of their supply vehicles from the list of relaxations in their previous guidelines. The guidelines would have been applicable from April 20, 2020. This would exclude the supplies of the non-essential goods by the e-commerce players for the rest of the period of the Lockdown 2.0.
SJM says that it firmly believes that this exemption would have led to non level playing field for offline retailers. Moreover, e-commerce players can neither keep their own inventory nor can indulge in the sale of private labels. The exemption would have only helped them to use their own network of retailers. This would not only have been unfair to the local retailers, but would have given unfair advantage to the giant e-commerce players.
Welcoming the government decision of changing the FDI Rules, SJM says that this amendment changes the Foreign Direct Investments (FDI) norms. This had been SJM’s demand for long and became more necessary after the reports surfaced of Chinese funds and banks started picking up stocks of various Indian or India based critical companies. The new rules make it mandatory for the Chinese companies, like those from Pakistan and Bangladesh, require mandatory clearances from the Indian government. Earlier they were allowed via automatic route. SJM also demand that similar provisions must be added to the Chinese investments coming from other shores like Hong Kong, Macau, Singapore etc.

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