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Sitharaman meets stakeholders on FDI in e-commerce

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Nirmala Sitharaman

New Delhi: With retail store operators going to court seeking parity between online and offline retailers, Commerce Minister Nirmala Sitharaman met industry representatives from both e-commerce and retail companies on Friday to discuss opening up the e-commerce sector to foreign direct investment (FDI).

A source in the department of industrial policy and promotions told IANS here that DIPP Secretary Amitabh Kant told company representatives at the meeting that the sensitive issue of opening the retail sector to foriegn investment required detailed consultations with all stakeholders and that the union commerce minister is slated to meet with ministers concerned from the various states next Wednesday.

Significantly, Sitharaman and DIPP officials met bankers on the matter on Friday, prior to their meeting with the e-commerce and retail companies.

Almost all stakeholders, including representatives of the Confederation of All India Traders (CAIT) and the Federation of Indian Chambers of Commerce and Industry had been invited to Friday’s meeting.

“In the meeting, CAIT urged the government not to turn the Indian retail market into an e-commerce dumping yard by allowing FDI in e-commerce,” CAIT secretary general Praveen Khandelwal told IANS.

Noting Indian retail trade is a source of livelihood for tens of millions people in the country, Khandelwal said that “though 100 percent FDI is allowed in retail in B2B model, the e-retailers are openly circumventing the norms and indulging in B2C model which is creating an uneven playing field.”

India currently allows 100 percent FDI in business-to-business (B2B) e-commerce, but not in B2C companies selling directly to consumers.

The Retailers Association of India (RAI) moved the Delhi High Court in May seeking a level playing field between online and offline retailers. The association, representing large brick-and-mortar retail companies, had boycotted the consultations with the minister on the matter in May.

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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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