SEAnews 2016-02-21 ArtNo.45691

【New Delhi】E-commerce companies, many of them unicorns (valued at $1 billion or more), could get full foreign direct investment (FDI) if a proposal of Department of Industrial Policy and Promotion (DIPP) passes muster.
　Press Trust of India reported on the 9th of February that the government was considering permitting 100 per cent FDI in the marketplace format of e-commerce to attract more foreign investments. This follows a recent meeting of top officials in DIPP, and the department of economic affairs and corporate affairs.
　A DIPP official told Business Standard that the proposal to allow FDI in e-commerce marketplace had been in the works for quite some time. It is believed that while DIPP is bullish on permitting no-holds-barred FDI in the sector, finance ministry is yet to give a green light to the proposal. If it does get a go-ahead, online marketplace FDI rules would be a part of the detailed guidelines to be issued soon.
○IT leaders to set tone for growth agenda as Nasscom summit

【Pune】As the captains of the $108-billion IT services sector meet for the 24th edition of Nasscom Leadership Forum starting on the 10th of February, the question on everybody’s minds is — how to revive growth amid tough times?
　The export-driven industry aims to generate $350 billion revenue by 2025. At a time when growth is waning, the targeted compounded annual growth rate of 11 per cent seems like a tough task. In the last three years, the industry has been able to meet only the lower end of Nasscom’s guidance. In FY16, the industry’s export revenues grew at 12.3 per cent on constant currency basis, compared with the forecast of 12-14 per cent growth. Similarly, in FY15, export revenues grew at 13.1 per cent against guidance of 13-15 per cent. For FY17, Nasscom has projected export revenue growth of 10-12 per cent. For an industry that has been struggling with currency volatility and global economic crisis, many believe slower growth could be the new normal for the industry.
【News source】

DIPP pushes for 100% FDI in marketplace e-tail

IT leaders to set tone for growth agenda as Nasscom summit

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