E-commerce layoffs not alarming, in line with global situation: Nirmala Sitharaman

NEW DELHI: Commerce and industry minister Nirmala Sitharaman on Thursday said that layoffs in the e-commerce sector are not alarming but part of the global phenomenon.

"It is in line with whatever is happening globally...nothing alarming," she said on being asked about retrenchment in e-commerce companies here. She added that the industry is in a state of flux.

Her statement comes a day after SoftBank backed e-tailer Snapdeal announced mass layoffs in order to make the company profitable.

Easing movement of goods, services
Separately, she also said that India on Thursday submitted a legally vetted proposal on Trade Facilitation in Services that seeks to ease movement of professionals across borders. The proposal will be taken up by an expert committee in Geneva from March 14-17 following which it will be put up for discussion among all WTO members.

This coincides with a global agreement to expedite movement, release and clearance of goods, including goods in transit or the Trade Facilitation Agreement that has come into force and will allow exchange of information on trade of goods between customs authorities of WTO countries.

The agreement, which is part of the WTO's Bali ministerial package of 2013 and is the first multilateral deal concluded in the 21 year history of the multilateral organisation.