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.
The Confederation of All India Traders (CAIT) has strongly criticised US-based lobby group USIBC for objecting to an initiative of DPIIT to reframe the Press Note 2 of FDI policy."The uncalled-for intervention of USIBC shows utter .
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.
CAIT criticises lobby group USIBC for reportedly urging India not to tighten e-commerce FDI rules dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.