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New e-commerce restrictions in India just ruined Christmas for Amazon and Walmart
The Indian government is playing the role of festive party pooper for Walmart and Amazon after it announced new regulations that look set to impede the U.S. duo’s efforts to grow their businesses in India.
Online commerce in the country is tipped to surpass $100 billion per year by 2022, up from $35 billion today, as more Indians come online, according to a report co-authored by PwC. But 2019 could be a very different year after an update to the country’s policy for foreign direct investment (FDI) appeared to end the practice of discounts, exclusive sales and more.
The three main takeaways from the new policy, which will go live on February 1, are a ban on exclusive sales, the outlawing of retailers selling products on platforms they count as investors and restrictions on discounts and cash back.
Those first two clauses are pretty clear and will have a significant impact on Amazon — which has pumped some $5 billion into India — and Walmart, which forked out $16 billion to buy India-based Flipkart.
(Score: 0) by Anonymous Coward on Saturday December 29 2018, @01:46AM (1 child)
I find it offensive that you used "Indian" and "pooper" in the first sentence. Not all Indians poop in the street these days.
(Score: 2) by Gaaark on Saturday December 29 2018, @11:42AM
2 Indians, one Vishnu?
--- Please remind me if I haven't been civil to you: I'm channeling MDC. ---Gaaark 2.0 ---