Complaints related to FDI norm violation by e-commerce players sent to ED, says DIPP secretary Ramesh Abhishek

New Delhi: Complaints related to alleged violation of FDI norms by e-commerce players have been forwarded to the Enforcement Directorate (ED) for appropriate action, a top government official said on Friday.

Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek said that all FDI policies are notified under the Foreign Exchange Management Act (FEMA) and any infringement of the law or allegation is investigated by the ED.

Representational image. Reuters

Representational image. Reuters

"So all the complaints that we receive in this regard or any violation of FEMA, we sent that to ED for appropriate action," he told reporters.

These remarks assume significance as certain industries and the Confederation of Indian Traders (CAIT) have time and again alleged violation of foreign direct investment (FDI) norms for e-commerce by online retail firms.

They have demanded action by the DIPP on their grievances.

When asked about reports that Amazon has sought certain clarifications from the department on sharing warehouse staff and other things for its food retail business, the secretary said: "if they have some problem, we can examine it".

Last year, the government approved Amazon Retail India's proposal. The company has proposed investments of Rs 3,500 crore for setting up subsidiary company in India with 100 percent FDI to engage in the business of retail trading of food products manufactured and/or produced in India.

Talking about new proposed industrial policy he said a draft note has been circulated for inter-ministerial consultation.

The new industrial policy envisions a competitive Indian industry equipped with skill, scale and technology


Updated Date: Apr 27, 2018 13:48 PM

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