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E-commerce Policy
SoftBank-backed Meesho has received shareholders' approval to raise up to Rs 4,250 crore through an initial public offering, according to the company's regulatory filing. The resolution for IPO was passed in the Extraordinary General Meeting on June 25, the filing by the e-commerce company said. According to the filing dated June 27, the shareholders approved raising up to Rs 4,250 crore through issuance of fresh equities. The development comes after Meesho completed its domicile shift to India from the US. The shareholders also approved a change in designation of Meesho Co-Founder and CEO Vidit Aatrey as chairman and managing director of the company.
Commerce and Industry Minister Piyush Goyal on Monday said the government holds extensive stakeholder consultations on the free trade agreements (FTAs) and is pursuing these pacts while keeping in mind the interests of the domestic industry. He said that India is keeping in mind both the offensive and defensive interests of industry while negotiating these agreements. "We do all our FTAs after holding extensive stakeholder consultations and meetings. We address their (industries) concerns and needs," he told reporters here on the sidelines of an event commemorating the third anniversary of the opening of Vanijya Bhawan. He added that India is negotiating FTAs with those trading partners which do not compete with the country but rather complement its economy so that industry and people get benefitted from that. "Going forward also, we will do FTAs which will keep in mind national and public interests," he added. Talking about the Bhawan, Goyal said it is a symbol of modern, efficie
Consumer protection regulator CCPA has issued notices to several e-commerce companies, including Amazon India and Walmart-owned Flipkart, directing them to remove merchandise featuring Pakistani flags from their platforms, Consumer Affairs Minister Pralhad Joshi said on Wednesday. The Central Consumer Protection Authority (CCPA) also sent notices to Ubuy India, Etsy, The Flag Company, and The Flag Corporation, saying the sale of Pakistani flags and related merchandise would not be tolerated. "Such insensitivity will not be tolerated. E-commerce platforms are hereby directed to immediately remove all such content and adhere to National laws," Joshi said in a social media post. The minister's post, however, did not specify which laws were being violated by selling the merchandise. India and Pakistan were engaged in a conflict earlier this month following the killing of 26 persons by terrorists in Kashmir's Pahalgam.
The Karnataka Agricultural Produce Marketing (Regulation and Development) (Amendment) Bill was passed by the Karnataka Assembly on Monday. State Agricultural Marketing Minister Shivanand Patil who presented the bill in the state Assembly said that earlier the government was regulating only the APMC yards but once the bill becomes a law, those doing business on the e-platform will have to operate within its framework. For example, D Mart, Big Basket, Amazon and Udaan come in our e-commerce platform. They are doing business evading our legal provisions. We are bringing this law to regulate them from doing business without paying cess, Patil told the House. He also said that in the previous law, there was just the reference to trader' but now the government has incorporated warehouse service providers' in the bill. We have also defined the duties of warehouse service providers'. Along with that, we have given power to regulate them to the APMC Director. There is also a provision to go