New Delhi: Permitting global e-commerce players like Amazon to do retail trading in the country will "finish" the domestic players like Flipkart, a senior government official said Friday.
"... If you will allow B2C (business to consumer) today, the Amazons of the world will come over and Flipkart will get finish tomorrow," Department of Industrial Policy and Promotion (DIPP) Secretary Amitabh Kant said at a Ficci function here.
Citing example of China-based e-commerce player Alibaba, he said the sector is growing in the neighbouring country and they permit B2B model.
"Alibaba is the story of B2B. Jack Ma (Alibaba founder and executive chairman) is result of B2B business and the conscious decision till now has been taken that we will allow young Indian entrepreneurs to grow the B2B business in the country," he said.
Kant said that India need not to have replicate the American model in every single thing.
"You want to promote your entrepreneurs, you want young Indians to grow and prosper through technology. Let them grow and prosper. When we will be ready we will open. Why do you want them to get killed at this stage," he added.
Global retail giant Amazon.Com had asked the government to relax foreign investment norms in e-commerce space.
India's Foreign Direct Investment (FDI) policy restricts e-commerce companies from offering services directly to retail consumers. At present, 100 percent FDI is allowed in business -to-business ( B2B) e-commerce but not in retail trading.
