Quote from Co-Founder and Managing Director of ShopYourWorld Sandip Shah on Pre- Budget expectations:
The Modi Government was expected to allow Foreign Direct Investments (FDI) in the e-commerce industry. This predicted move saw mixed reaction from Indian e-tailers owing to the prospect of big global companies competing against indigenous players.
Thankfully, this move has been withheld and more research is going to go into the understanding of the e-commerce industry. This move deserves appreciation from both the retail sector as well as the general public.
The e-commerce industry is a rapidly expanding one and needs careful investments and planning. By defining the current status of the sector, a planned approach can be made to help channelize and refine it. Since e-commerce is the way of the future, we hope the Modi Government invests considerable time, money and energy in its expansion. Only time will tell how much of this promise gets implemented.