US lobby group requests India not to tighten foreign e-comm rules
By MYBRANDBOOK
According to sources, 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
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.
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 government is now considering tightening those rules again to include sellers in which a foreign e-commerce firm holds an indirect stake through its parent. Such a change could hurt Amazon as it holds indirect stakes in two of its biggest online sellers in India, Cloudtail and Appario.
"Any further changes in FDI rules would limit e-commerce firms from leveraging their scale," USIBC said in the letter.
USIBC also asked India's Department for Promotion of Industry and Internal Trade (DPIIT) to engage in substantive consultation with companies on e-commerce regulation.
The government is also considering prohibiting online sales by a seller who, for example, purchases goods from an e-commerce entity's wholesale unit, or any of its group firms, and then sells them on the entity's websites.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
VERSA NETWORKS INDIA PVT. LTD.
INFOSYS TECHNOLOGIES PVT. LTD.
MICROTEK INTERNATIONAL PVT. LTD.
SAMRIDDHI AUTOMATIONS PVT. LTD.
Technology Icons Of India 2023: Kulmeet Bawa
Kulmeet Bawa resides as President & Managing Director, SAP Indian subc...
Technology Icons Of India 2023: Rajeev Chandrasekhar
Rajeev Chandrasekhar is the Union Minister of State for Electronics an...
Technology Icons Of India 2023: Natarajan Chandrasekaran
Natarajan Chandrasekaran is the Chairman of the Board of Tata Sons, th...
TCIL continues to strengthen India with its technology expertise
TCIL undertakes consultancy & turnkey projects in the field of Telecom...
CSCs enabling rural India digitally empowered
Common service centres (CSCs) are digital access points under the Digi...
STPI encouraging software exports from India
Software Technology Parks of India (STPI) is an S&T organization under...
NETPOLEON SOLUTIONS
Netpoleon Group is a Value-Added Distributor (VAD) of Network Security...
TECH DATA, A TD SYNNEX COMPANY
Tech Data Corporation was an American multinational distribution compa...
REDINGTON INDIA LIMITED
Redington (India) Limited operates in the IT product distribution busi...