America’s e-commerce company Amazon has said that it looks very good in the long run in the Indian market, but it is currently evaluating changes in FDI rules for the online market place. The company said that its customers and vendors do not face ‘any kind of unwanted results’ on its platform, so it is taking such a step. Earlier, e-commerce had asked the government to implement the new rules of FDI six months later.
Amazon has promised to invest $ 5 billion in India. The company said that it has built its business around price selection and convenience.
Amazon Chief Financial Officer Brian Olsavsky said through an investor call, “There is uncertainty about the fact that changes in the rules will have an impact on the e-commerce sector. We are committed to complying with all laws and regulations, but we are evaluating the situation. “
New rules have come into effect since February. Under these, e-commerce companies with foreign investment are prohibited from selling the products of those vendors in which they have a stake. In addition, specific marketing contracts will also be banned. The products of Cloudtail and Apparel have been removed from Amazon’s platform, as they have amazon’s equity investment.
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Colin has been working in the business industry for quite a sometime and he recently made the decision to become a full-time business journalist. At Daily Research News, he also helps us take care of the business writing.