WASHINGTON – U.S. Sen. Mark R. Warner (D-VA) praised India’s Prime Minister 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. Sens. Warner and John Cornyn (R-TX), 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.   

“It is a very promising sign that as Prime Minister Modi pursues his ‘Digital India’ initiative, U.S. e-tailers can now compete on a level playing field in India,” Sen. Warner said. “This move will benefit both U.S. and Indian companies, and help the nearly 400 million Indians living in poverty access cheaper goods and job opportunities.”  

A copy of Sens. Warner and Cornyn’s letter to President Obama last year calling for the liberalization of FDI investment in e-commerce is available here.