India has warned foreign e-commerce firms like Amazon and Walmart Flipkart to ensure their compliance with the new foreign investment rules.
The Minister for Commerce and Industry Piyush Goyal has said that the government is committed to protecting small traders but will still listen to concerns with the new foreign investment rules.
India imposed new e-commerce Foreign Direct Investment on February 1st, 2019 in accordance with help small traders.
In response to the new rules, Amazon and Flipkart said that they have always acted in accordance with the rules, reportedly the companies and the US government are against the rules stating that these rules would force the firms to change their business structures.
Also Read: All rocking outfits in questionable bold colors
The companies provided the logistics support where Indian retailers who use their e-commerce platforms to support their own businesses.
These rules affected the online operations of Amazon in February. It came as a blow for Walmart just months before investing $16 billion for gaining control of India Flipkart which is its biggest ever deal.
In Monday meeting, Goyal defended India initiation and said that he doesn’t want any uncertainties for businesses in India.