India likely to announce foreign investment in e-commerce next month

Whatsapp News

MUMBAI/ DELHI – Prime Minister Narendra Modi’ could allow direct investment in e-commerce sector as early as next month, paving the way for global retailers such as Amazon expand business, four with knowledge of the matter told Reuters.

A more robust retail sector spur manufacturing and help an revival, said the , are privy discussions within the . An announcement is expected in next month’ budget.

currently bans global retailers selling goods directly customers but allows them own 100 percent of a marketplace business, where third-party suppliers can use platform. Both Amazon and eBay use such a platform operate in the country.

When asked about the decision, a for commerce and industry ministry declined to comment. (Reuters)