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Amazon evaluating changes to FDI rules

U.S. e-tail giant Amazon sees “very good long-term prospects” in the Indian market but is evaluating recent changes in FDI rules for online marketplaces to ensure there are no “unintended consequences” for customers and sellers on its platform, a top company official has said. With the new rules coming into effect from February 1, Amazon.in has removed a number of products, including mobile accessories and batteries, from its platform. Its ‘Pantry’ service that delivers grocery items is also now unavailable in India. Much uncertainty “… there is much uncertainty as to what the impact of the government rule change is going to have on the e-commerce sector there. “We remain committed to complying with all laws and regulations, we will, but we’re evaluating the situation,” Amazon CFO Brian Olsavsky said during a recent investor call. New rules bar online marketplaces that have foreign investments from offering products of sellers in which they hold a stake.

Source : https://www.thehindu.com/todays-paper/tp-business/amazon-evaluating-changes-to-fdi-rules/article26170567.ece

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