Wednesday, June 11, 2014

Giftease.com expectations from the new government

Quote from Mr. CEO at Giftease.com Vivek Mathur on his expectations from the new Government in the IT industry:

The new BJP government is widely expected to push through economic reforms, and opening FDI in the e-commerce sector will certainly enable more investment into this sector. This is probably far less contentious that FDI in multi-brand retail, and we do hope that this shall go through. Though there are no details available in terms of what might be extent to which FDI may be considered, conditions and riders etc – and the devil will be in the detail- but if the government is even thinking of boosting this sector, that itself is a welcome sign. Much of the growth this sector has seen over the last few years has been enabled by international funds already, and FDI may allow more innovative and efficient business models to evolve. Also, ecommerce has the potential to create jobs in technology, logistics etc, and to enable growth for millions of small traders across the country, without many of the sensitivities associated with FDI in multi-brand retail, so I am hopeful that there will be some movement on this soon.