The Department of Industrial Policy and Promotion (DIPP) has rejected Decathlon’s bid to sell online. Decathlon had previously written to the DIPP seeking its nod to sell online.
The French sports goods retailer sells through its offline stores in India, and sells online via Snapdeal and Sports365. “The proposal has been turned down,” said a government official (via).
The DIPP has rejected the bid on the basis that FDI in single brand retail does not allow sales online.Currently, FDI in e-commerce is strictly prohibited, while FDI in multi-brand retail was permitted in 2012.
FDI in e-commerce may be brought in by the end of the year, according to a report.
#ShortNews: News you could use, useful data and actionable insights in a crisp and easy format (Feedback:email@example.com)