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Footwear retailers withdraw case against ecommerce companies

Update On :13 August 2016

Footwear retailers withdraw case against ecommerce companies

Shoe Manufacturers and retailers, who had moved the Delhi High Court alleging ecommerce marketplaces were violating foreign investment rules, have withdrawn their petition in light of clarification issued by the government allowing 100% foreign direct investment in online marketplaces. 

"In view of the clarification issued by the government of India dated March 29, 2016, vide press note 3, the petitioner seeks to withdraw the present writ petition with liberty to approach the court/authorities in respect of said press note or consequences thereof," All India Footwear Manufacturers & Retailers Association said in a statement submitted in the court on Friday. 

A person close to the development, however, said the association is preparing to file a new petition in the Delhi High Court within 45 days challenging the government rule of allowing FDI in online marketplaces.

The association had earlier accused ecommerce firms with foreign funding of directly selling to consumers, which local rules don't permit. 

News Source From : http://economictimes.indiatimes.com/industry/services/retail/shoe-retailers-withdraw-case-against-ecommerce-companies/articleshow/53679560.cms

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