Piyush Goyal seeks reciprocity from trade partners on FDI, data, ecommerce

Commerce and industry minister Piyush Goyal has said the government will engage with its trade partners on issues of foreign direct investment (FDI), ecommerce and data on a reciprocal basis, as it plans to bring out a national policy on ecommerce in the next 12 months. 

 

The minister said India wants to engage with the world in FDI, data and ecommerce but there has to be reciprocity,” said an official who attended a meeting that Goyal had with around 25 ecommerce firms including Amazon, Flipkart, Snapdeal, MakeMyTrip and Zomato on Monday. 

 

However, he emphasised that the government will ensure that small retailers thrive and those e-commerce companies would be promoted, who on their part promote Indian artisans. 

 

 

Goyal’s statement assumes significance with US Secretary of State Mike Pompeo visiting India for talks in which critical issues such as India’s proposed data localisation norms in the draft ecommerce policy are likely to be discussed. Pompeo’s visit also comes ahead of Prime Minister Narendra Modi’s visit to Japan for the G20 Summit in Osaka later this week. 

 

We will put in place an institutional framework to bring out a national ecommerce policy within next 12 months, the official said .

 

We appreciate the initiative of commerce minister Mr Piyush Goyal to engage in a candid, positive and progressive discussion aimed at creating a vibrant ecommerce market and Digital India,” K Krishnamurthy, CEO of Flipkart Group, said.