E-commerce players like Snapdeal, Shopclues join hands to fight new FDI policy

by Apparel Resources News-Desk

14-March-2019  |  2 mins read

Snapdeal
Image Courtesy: quantumchimica.com

The major domestic e-commerce players such as Snapdeal, Shopclues and many more have joined hands to form an official body to voice their viewpoints regarding policy frameworks for the sector. The group is named as The Ecommerce Council of India (TECI).

This comes against the recent backdrop of the revision in the foreign direct investment (FDI) in e-commerce norms. Also, it is believed that the norms have impacted the business models of e-commerce giants such as Amazon India and Walmart-backed Flipkart.

Now, TECI wants to ensure that any regulatory framework will balance the interests of all stakeholders. Also, it will work in collaboration with trade bodies in India and outside to further the objectives of the association.

Many companies belonging to TECI have backed the tweaking of the rules as it is expected to provide a level-playing field for homegrown e-commerce players and sellers. Earlier, the startup founders such as Sachin Bansal, founder of Flipkart and Bhavish Aggarwal, founder of Ola, tried to form a similar body, but they failed.

Besides policy advocacy, the other issues include data privacy, logistics, consumer protection and development of small businesses. TECI members, between themselves, account for more than 7.5 lakh online sellers and service providers.

Other founding members include from various fields in e-commerce such as services provider UrbanClap, online fashion rental platform Flyrobe, omnichannel enabler Fynd, and social commerce platform Shop101. Digital-first fashion brands like Bewakoof, Mamaearth, and Rustorange are part of this initiative as well.

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