Amazon.com Inc and Tata Group of India warned government officials that more stringent rule planning for online retailers would have a significant impact on business models. Four sources told Reuters.
At a meeting hosted by the Consumer Department and Mrs. Invest India, the government’s investment promotion wife, many executives expressed concerns and confusion about the proposed regulations and requested an extension of the July 6 submission deadline, sources said. Told.
The government’s strong new e-commerce provisions, announced on June 21, aim to strengthen consumer protection, especially between market leaders Amazon and Walmart Inc’s Flipkart and other online retailers. Raised concern. New rules that limit the sale of
Snapdeal, ban misleading ads and enforce dissatisfaction systems can force companies like Amazon and Flipkart to consider the structure of their business. , Reliance Industries’ JioMart, BigBasket and Snapdeal can increase the cost of domestic competitors. ..
Amazon argued that COVID 19 had already smashed small businesses and the proposed rules would have a significant impact on sellers, but two sources argued that some provisions were included in existing legislation, said two sources. It was. It was an individual.
The proposed policy states that e-commerce businesses should make sure that none of the businesses involved are listed as sellers on their website. This could particularly affect Amazon. That’s because Amazon has indirect investments in at least two sellers, Cloudtail and Appario.
The proposed clause is problematic, stating that Tata Sons, the holding company of India’s $100 billion Tata Group, is suspending Starbucks, a joint venture with India’s Tata. We are offering our products on the website of the Tata Marketplace.
Tata executives said the rule would have wide-ranging implications for large companies and could potentially limit sales of its own brands, according to two sources.
Tata declined to comment.
My name is Mayank Bansal I have a keen interest in writing about the latest happenings in business and market. I am a news writer at review minute.
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