India asked not to tighten e-commerce rules
30 Jan 2021 Picture used for illustrative purpose. File
A US lobby group which represents firms including Amazon.com and Walmart has urged India not to tighten foreign investment rules for e-commerce companies again, according to a letter seen by Reuters.
India is considering revising the rules after traders in the country accused Amazon’s Indian division and Walmart’s Flipkart of creating complex structures to bypass investment regulations, Reuters reported this month.
The US companies deny any wrongdoing.
India only allows foreign e-commerce players to operate as a marketplace to connect buyers and sellers but local traders say the US giants promote select sellers and offer deep discounts, which hurts business for smaller local retailers.
A shopkeeper waits for customers at a market in Lucknow, India on Jan. 29. (AP Photo)
NEW DELHI A U.S. lobby group which represents firms including Amazon.com and Walmart has urged India not to tighten foreign investment rules for e-commerce companies again, according to a letter seen by Reuters.
India is considering revising the rules after traders in the country accused Amazon s Indian division and Walmart s Flipkart of creating complex structures to bypass investment regulations, Reuters reported this month.
The U.S. companies deny any wrongdoing.
India only allows foreign e-commerce players to operate as a marketplace to connect buyers and sellers but local traders say the U.S. giants promote select sellers and offer deep discounts, which hurts business for smaller local retailers.
US lobby group urges India not to make foreign e-commerce rules more stringent
India is considering revising the rules after traders in the country accused Amazon s Indian division and Walmart s Flipkart of creating complex structures to bypass investment regulations
Reuters | January 30, 2021 | Updated 15:29 IST
In 2018, India changed its foreign direct investment (FDI) rules to deter foreign firms offering products from sellers in which they have an equity stake
A US lobby group which represents firms including Amazon.com and Walmart has urged India not to tighten foreign investment rules for e-commerce companies again, according to a letter seen by Reuters. India is considering revising the rules after traders in the country accused Amazon s Indian division and Walmart s Flipkart of creating complex structures to bypass investment regulations, Reuters reported this month.
US Lobby Group Urges India Not to Tighten Foreign Investment Rules for E-Commerce
India is considering revising the rules following reports on Amazon and Flipkart creating complex structures to bypass investment regulations. By Reuters | Updated: 30 January 2021 10:54 IST
Photo Credit: Reuters
Highlights
The USIBC urged the government for not making any further updates
Amazon India and Flipkart were accused of bypassing investment rules
A US lobby group which represents firms including Amazon.com and Walmart has urged India not to tighten foreign investment rules for e-commerce companies again, according to a letter seen by Reuters.
India is considering revising the rules after traders in the country accused Amazon s Indian division and Walmart s Flipkart of creating complex structures to bypass investment regulations, Reuters reported this month.
CAIT Criticises US Lobby Group for Urging India Not to Tighten E-commerce FDI Rules
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A US lobby group which represents firms including Amazon.com and Walmart has urged India not to tighten foreign investment rules for e-commerce companies again, according to a letter seen by Reuters.
India is considering revising the rules after traders in the country accused Amazon s Indian division and Walmart s Flipkart of creating complex structures to bypass investment regulations, Reuters reported this month. The US companies deny any wrongdoing.
Meanwhile, responding to the demand, the Confederation of All India Traders (CAIT) on Saturday criticised the USIBC. The traders body shot off a letter to US-India Business Council (USIBC) President Nisha Biswal, stating that without knowing the true facts and under pressure of Amazon, Walmart and others, the USIBC s intervention is unwarranted which runs against the interest of the 85 million traders of India .