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#Archana Chaudhary
Archana Chaudhary and Saritha Rai, ‘Why Jeff Bezos’ billion-dollar pledge hasn’t impressed anyone in India’, Economic Times
India is turning increasingly hostile to the monopolistic practices of foreign e-commerce players that dominate the burgeoning market. Responding to widespread complaints, India restricted foreign direct investment in multi-brand retail and this has forced Amazon and Walmart Inc.’s Flipkart, the two biggest e-commerce players in India, to overhaul business models to comply with new rules introduced in December 2018. In 2016, New Delhi had said foreign-owned e-commerce platforms could operate as marketplaces – facilitating transactions between sellers and consumers – but not sell directly. Flipkart and Amazon had established wholesale networks to reach their customers. But the more recent regulations target this workaround, banning foreign e-commerce sites from selling goods from companies in which they own a stake or have commercial arrangements with.
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Archana Chaudhary and Saritha Rai, ‘Why Jeff Bezos’ billion-dollar pledge hasn’t impressed anyone in India’, Economic Times
Amazon.com Inc. founder Jeff Bezos attracted significant opposition during a tour of India intended to underscore its importance as a growth driver for Amazon. The country’s antitrust regulator initiated a formal investigation hours before his arrival, and retailers affiliated with the Confederation of All India Traders organized sit-ins and public rallies in multiple cities to protest Amazon’s traditional cut-price approach and exclusive-selling practices. Outside the venue of Amazon India’s annual event for small retailers, demonstrators held banners proclaiming “Amazon, go back!” and with Bezos’ face crossed-out. The CEO sought a meeting with Prime Minister Narendra Modi but that didn’t come through.
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