The Silicon Review
29 January, 2019
Local e-commerce players like ShopClues and Shop101 and other social commerce startups have teamed up for opposing against a deadline of the new extension in compliance with FDI rules. The deadline is set for 1st February this year.
In order to laud the government for clarifying the rules and regulations on FDI in the e-commerce space, most of the companies have appealed to the country’s DIPP (Department of Industrial Policy and Promotion).
As per the government’s Press Note 2 released in December last year, it prohibits online sellers and their group companies to control their vendors and doesn’t allow them to control the inventory sold on their platforms.
Flipkart wanted the government to extend the deadline. According to industry officials, the government was emphasizing an extension of at least two months.
Till now many organizations like off-line traders association, Confederation of All India Traders and online seller groups have opposed to the extension date.
As per reports, e-tailers such as Wooplr, Fynd, and LimeRoad have also written to the ministry and only a few other brands have expressed their concern over the matter.
Since Flipkart is in favor of the rules, it sought a six months extension, and Amazon has sought four months to comply. Both the companies have clarified their concerns over the extension request with DIPP in order to comply with the rules.
For the first time, small retailers have expressed their concerns towards the government on this issue which have hit their biggest rivals — Amazon and Flipkart.
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