Commerce and Industry Minister Piyush Goyal met Walmart International President and CEO Judith McKenna.
The ministry tweeted saying, “Minister @PiyushGoyal met President & CEO of Walmart International, Judith McKenna and discussed local sourcing and boosting sales of ‘Made in India’ products, which will benefit local businesses and the overall domestic market.”
The e-commerce industry in India is currently at the crossroads. Firstly, the Government is still deliberating on national e-commerce policy, and to add to it there are the recent tension between Flipkart and the Government.
The new FDI rules prohibit large online marketplaces to exercise ownership or control over the inventory of their sellers.
Walmart-owned Flipkart is one of the e-commerce majors to have been impacted by the new norms.
Earlier during a meeting with online players, Goyal had asked Amazon and Flipkart to ensure compliance with the rules. He urged them not to find any loopholes in the law as the Government would not allow multi-brand retail trade by foreign e-commerce firms and that they could only be agnostic platforms.