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The directive from Goyal, who holds the commerce and industry and railways portfolios, came after an interactive session was held here "till late evening on Monday with e-commerce companies to discuss ways to bring about convergence of interests of e-commerce platforms and small retailers".Accordingly, the Minister "directed the Department for Promotion of Industry and Internal Trade (DPIIT) to immediately form a committee headed by Additional Secretary in DPIIT, with representatives from Department of Commerce, Ministries of MSME, Consumers Affairs and legal experts from the government as its members.The committee will hear grievances and provide necessary clarifications on issues related to FDI in e-commerce."Commerce and Industry Minister reiterated that the government will ensure that small retailers and kirana shops thrive in the country," the statement said."The Minister informed that the Commerce and Industry Ministry is making all efforts to balance the interests of small businesses, retailers, kirana shop owners and e-commerce companies, and he will again hold a meeting after a month," it said.In the interactive session, Goyal informed that the e-commerce policy was a work in progress and assured that enough time will be given to all stakeholders to adapt to any changes that may be required."More importantly, the changes will be prospective and nothing will be implemented with retrospective effect. He (Goyal) urged the e-commerce companies to always honour the spirit as well as letter of the law," the statement said."The Commerce and Industry Minister was of the view that even as the interests of MSMEs and other small retailers are protected, India will continue to embrace technology and digitalisation to take the economy forward," it added.( With inputs from IANS )

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Business :Panel formed for clarification on issues related to FDI in e-commerce

In an effort to bring about a convergence of interest between e-commerce platforms and small retailers, Union Minister Piyush Goyal has directed to form a committee which will provide necessary clarification on the issues related to FDI in e-commerce ...