Reuters exclusively reported this week India was considering revising the policy after complaints from traders who accuse Amazon and Walmart Inc's Flipkart of creating complex structures to bypass investment rules. The Confederation of All India Traders (CAIT) said in a statement that its delegation held a meeting late on Thursday with Indian Commerce Minister Piyush Goyal, who told them a "strenuous exercise" was underway to issue new foreign investment rules. "Mr Goyal told us the government will address concerns about alleged violations of current rules. Unhappy domestic traders say foreign e-commerce businesses indulge in unfair business practices that use steep discounts to target rapid growth, allegations the companies deny. Amazon and Flipkart were last hit in Dec. 2018 by investment rule changes that barred foreign e-commerce players from offering products from sellers in which they have an equity stake.

Source: bd News24 January 23, 2021 10:41 UTC