Amazon Could Be Hit as India Is Said to Plan Foreign Investm

Amazon Could Be Hit as India Is Said to Plan Foreign Investment Rule Changes


Walmart and Flipkart did not immediately respond to a request for comment.
Yogesh Baweja, the spokesman for the Ministry of Commerce & Industry, which is working on the issue, confirmed to Reuters any changes will be announced through a so-called "press note," which contains foreign direct investment rules. He did not give details.
"It's a work in progress," Baweja said, adding an internal meeting on the subject last took place about a month ago.
"Of course Amazon's a big player so whatever advice, whatever suggestions, whatever recommendations they make, they are also given due consideration."
Frayed ties
The 2018 rules forced Amazon and Flipkart to rework their business structures and soured relations between India and the United States, as Washington said the policy change favoured local e-tailers over US ones.

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