India approves foreign investment in e-commerce sector

India on Tuesday approved 100 percent foreign investment in marketplace e-commerce companies, formalizing rules for the first time for the multi-billion dollar sector. After years of protectionist policies, India started opening up its retail sector in 2011 but so far had not laid down explicit rules governing foreign investment in the fast-growing e-commerce segment. In a notification on Tuesday, India’s commerce ministry said it would allow 100 percent foreign direct investment in market