US Senator welcomes India FDI policy in e-commerce sector

Washington, Mar 31: A top American Senator today welcomed India's decision to loosen FDI restrictions in the e-commerce sector, saying it will help nearly 400 million Indians living in poverty access cheaper goods.

"It is a very promising sign that as Prime Minister Modi pursues his 'Digital India' initiative, US e-tailers can now compete on a level playing field in India," Senator Mark Warner, Co-Chair of the Senate India Caucus said.

"This move will benefit both US and Indian companies, and help nearly 400 million Indians living in poverty access cheaper goods and job opportunities," Warner said.

In a statement, Warner praised Prime Minister Narendra Modi's announcement that India will loosen FDI restrictions in the e-commerce sector and allow foreign companies to sell items directly to Indian consumers over the internet. Warner and Senator John Cornyn, both co-chairs of the Senate India Caucus, previously urged President Obama to request Prime Minister Modi loosen restrictions ahead of his historic trip to India in January, 2015.

PTI