ICEA Welcomes the Review of Policy on Foreign Direct Investments (FDI) E-Commerce

“ICEA profusely thank the Hon’ble Prime Minister for restoring the balance in the economy with this policy review. We had approached the Hon’ble Prime Minister on 28th November, 2018 and we are extremely grateful for this profound action” Mr. Pankaj Mohindroo, Chairman, ICEA, said.

Mr. Mohindroo, further added, “while E-Commerce is critical for the growth of our economy, we must understand that India has a huge retail and distribution trade which is the backbone of our economy and millions of jobs and entrepreneurs are dependent on this for their livelihood. We feel that this policy review, if implemented in its letter and spirit, will pave the way for restoring the balance which had got disturbed. Gradually jobs and businesses will be revived. It is also important that the natural centre of power in trade and industry should remain with the brands who take the maximum risk. E-Commerce brands cannot substitute that risk taking”.