Online shopping experience is all set to change. New FDI norms that have come into effect and have led to large scale changes at Amazon India and Flipkart. Several products disappeared from their platforms resulting in price hikes and delayed delivery timelines. ET NOW's Rahul Dayama reports..
Online shopping experience is all set to change. New FDI norms that have come into effect and have led to large scale changes at Amazon India and Flipkart. Several products disappeared from their platforms resulting in price hikes and delayed delivery timelines. ET NOW's Rahul Dayama reports.
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In a major setback to Amazon and Walmart-led Flipkart, the Department of Industrial Policy and Promotion (DIPP) on Thursday rejected the request to delay the implementation of the new FDI norms for the e-commerce sector. The new norms come into effect from Friday. Earlier this month, Amazon and Walmart (the majority stakeholder in Flipkart) had sought an extension of the deadline for the new norms which prohibits the e-tailers from selling products of companies in which they have stakes.
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Government on Monday (June 20) relaxed Foreign Direct Investment (FDI) norms in a host of sectors including civil aviation, single-brand retail, defence and pharma by permitting more investments under automatic route.
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A leaked draft of India’s e-commerce policy has divided industry watchers and stakeholders. While some argue that it sufficiently decouples consumer protection and business data laws, others say it could increase compliance requirements and create uncertainty. ET’s Alnoor Peermohamed explains the main points in the draft policy.
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