NEW DELHI: The proposed levy of 1 per cent TDS on e-commerce transactions announced in the recent Budget may seem like a harmless ‘papercut’ but could impact working capital of small businesses, Amit Agarwal, country head of Amazon India and Chairman of industry body IAMAI said on Wednesday. Agarwal said the focus for India should be on “removing friction and bottlenecks” and added that the target of $1 trillion digital economy is not far fetched for a country that is seen as a digital powerhouse. “Just look at the most recent Budget. There is an introduction of tax collection at source. These seem like harmless papercuts but really impact the working capital of small businesses,” Agarwal said. A lot can be achieved by focusing on removing friction, he said expressing hope that there will be more attention in enabling this space for successful entrepreneurs. Agarwal was speaking at 14th India Digital Summit organised by Internet and Mobile Association of India (IAMAI). Agarwal further advocated a razor sharp focus on skilling, grassroot entrepreneurship, driving equal opportunity through greater women’s participation as well as Artificial Intelligence backed solutions, and said a multi pronged approach can enable India to meet its target of… Read full this story
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