Budget 2014: Budget announces opening of e-commerce for FDI, says PwC

NEW DELHI: Sandeep Ladda, India technology leader at PwC, says Finance Minister Arun Jaitley has effectively announced in his budget speech allowing foreign investment in India’s e-commerce business.

"He has announced opening up of e-commerce space to FDI," Ladda said in a telephonic interview.

Ladda further said in an e-mailed statement: "Liberalisation of FDI in e-commerce sector will provide much-needed certainty to foreign players and to a sector that has the promise to provide increased commerce and generate employment in the country.

This will also provide boost to the sector and create healthy competition so as to benefit all the constituents in the ecosystem - consumers, government, e-commerce players, and retailers in general".

Its however, unclear on what percentage of foreign investment will be allowed in the sector.