{"id":1428,"date":"2019-11-22T09:30:16","date_gmt":"2019-11-22T09:30:16","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2019\/11\/22\/dpiit-received-some-complaints-of-e-commerce-firms-offering-deep-discounts-piyush-goyal\/"},"modified":"2019-11-22T09:30:16","modified_gmt":"2019-11-22T09:30:16","slug":"dpiit-received-some-complaints-of-e-commerce-firms-offering-deep-discounts-piyush-goyal","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2019\/11\/22\/dpiit-received-some-complaints-of-e-commerce-firms-offering-deep-discounts-piyush-goyal\/","title":{"rendered":"DPIIT received some complaints of e-commerce firms offering deep discounts: Piyush Goyal"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/11\/goyal-3.jpg\" alt=\"piyush goyal, FEMA, ecommerce, industry news, foreign direct investment\" width=\"660\" height=\"440\" class=\"lazy lazy-hidden size-full wp-image-1772282\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/goyal-3.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/goyal-3-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/goyal-3-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/goyal-3-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2019\/11\/goyal-3.jpg\" alt=\"piyush goyal, FEMA, ecommerce, industry news, foreign direct investment\" width=\"660\" height=\"440\" class=\"size-full wp-image-1772282\" srcset=\"https:\/\/images.financialexpress.com\/2019\/11\/goyal-3.jpg 660w, https:\/\/images.financialexpress.com\/2019\/11\/goyal-3-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/11\/goyal-3-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/11\/goyal-3-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">The onus of compliance of the provisions of FDI policy is on the investee entity. (PTI)<\/span><\/figure>\n<\/div>\n<p>The Department for Promotion of Industry and Internal Trade (DPIIT) has received complaints that e-commerce companies are offering deep discounts, indulging in predatory pricing, exercising control over inventory and influencing the prices of goods sold on the platform, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Commerce and Industry Minister Piyush Goyal said that any violation of foreign direct investment (FDI) regulations is covered by the penal provision of the Foreign Exchange Management Act (FEMA), 1999.<\/p>\n<p>The Reserve Bank of India (<a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/rbi\/\" rel=\"noopener noreferrer\">RBI<\/a>) administers the FEMA and Directorate of Enforcement is the authority for the enforcement of the act. \u201cSome representations have been received in this department, complaining that e-commerce companies are offering deep discounts, indulging in predatory pricing, engaging in B2C business, exercising control over inventory and influencing the prices of goods sold on the platform,\u201d he said.<\/p>\n<p>The onus of compliance of the provisions of FDI policy is on the investee entity. The policy is made legally enforceable through notifications under FEMA, 1999, by the RBI.<\/p>\n<p>In a separate reply on onions, the minister informed that the prohibition on export of onions has been imposed in view of the prevailing adverse domestic availability and price situation. \u201cNo report of adverse impact on onion growers in the country, particularly in Maharashtra, has been received in the ministry,\u201d he said. <\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] The onus of compliance of the provisions of FDI policy is on the investee entity. (PTI) The Department for Promotion of Industry and Internal Trade (DPIIT) has received complaints that e-commerce companies are offering deep discounts, indulging in predatory pricing, exercising control over inventory and influencing the prices of goods sold on the platform, [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":1429,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-1428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1428","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=1428"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/1428\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/1429"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=1428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=1428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=1428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}