E-commerce giant Amazon has moved the Supreme Court against the Future-Reliance Retail deal.On February 8, the Delhi High Court had stayed the implementation of status quo ordered by a single-judge bench on the Rs 24,713-crore deal between .
On February 8, the Delhi High Court had stayed the implementation of status quo ordered by a single-judge bench on the Rs 24,713-crore deal between Future Retail Ltd and Reliance. The
Amazon-Future case | Government needs to enforce FDI rules in substance rather than form
Delhi High Court finds that Amazon’s deals with Future Group amounts to control of Future Retail and violates FDI laws. M Rajendran
Rank 4 | Company: Amazon (Image: Reuters)
Foreign Direct Investment (FDI) is a critical component to boost economic growth in a capital starved nation such as India. At the same time, the rights granted to foreign capital should be balanced against the development needs of the country so that foreign monopolies do not take root and destroy local small businesses.
Thus, in an area such as the retail sector, the Indian government – regardless of the political party in power has been cautious in allowing FDI. But that has not prevented foreign companies in trying to seek a toehold in this fast growing sector (expected to reach $1.75 trillion by 2026), sometimes by breaking the rules. The government must take these
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