The government is considering issuing a clarification on its foreign direct investment (FDI) rule for e-commerce, commerce and industry minister Piyush Goyal said on Tuesday. The statement comes amid reports that the government could tighten the policy that could force players like Amazon and Flipkart to restructure their existing marketing tie-ups.
Goyal said India will resume talks on a trade deal with the US once a new trade representative assumes office there. Despite differences over offers, both India and the US negotiated a mini deal for months, before the American election purportedly slowed down the process. The US was the largest single market for India, with bilateral goods trade worth $89 billion in FY20.
Source: Financial Express
