In a move that is expected to boost foreign investment in the e-commerce space, the government on Tuesday clarified its position on foreign investments in e-commerce and permitted 100 per cent FDI in the market place format of e-commerce retailing under the automatic route.
While FDI has not been permitted ian inventory-based model of e-commerce, the government extended the definition of marketplace to include support services to sellers with respect to warehousing, logistics, order fulfillment, call centre, payment collection and other services.
Though the clarification comes in the absence of clear FDI guidelines on various online retail models, the online marketplaces in India have already seen large foreign investments by several global players (such as Amazon) and into homegrown players (such as Flipkart and Snapdeal) who are operating in the space.
This article is originally seen here.
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