Budget 2014: Liberalisation of FDI in eCommerce to provide certainty to foreign players, says Sandeep Ladda

As the Finance Minister Arun Jaitley presents the Union Budget 2014, expectations are running high across sectors that an enabling environment will be provided, which will ultimately boost economic growth.

The world's biggest retail chains, which were initially eager to do business in populous India, may still not be too excited.

The potential size of the market ($850 billion by 2015, according to Deloitte) and the purchasing power of young Indians would seem to attract businesses, but the rules for doing business in the country is still complicated. Since opening up the retail sector to 51% foreign investment in 2012, India has not received a single application from global retailers.

So it is the need of the hour for the government to allow more Foreign Direct Investment ( FDI) in e-commerce.

In this regard, Sandeep Ladda, India Technology leader, PwC India said that liberalisation of FDI in eCommerce 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, eCommerce players, and retailers in general," he said.