IAMAI welcomes 100% FDI in e-commerce

NEW DELHI: The Internet & Mobile Association of India (IAMAI) welcomed the DIPP clarification on the marketplace model.

“The industry has been seeking this clarification and I am delighted that this has finally come through,” said Subho Ray, President IAMAI.

Terming the move "progressive", IAMAI said in a statement that allowing 100% FDI under automatic route in online marketplace model will usher in considerable investments and will immensely benefit the consumers and the small and medium industries, and will also open up avenues for employment generation.

"IAMAI recognises the ‘intermediary’ role played by such technological platforms. IAMAI hopes that going forward, the Government will also allow 100% FDI in inventory based B2C e-commerce activities," it said in a statement.