New E-commerce rule has discouraged foreign investment in India
“One of the biggest impacts is on the private label business built by Flipkart, Amazon and Myntra. The new E-commerce rule has discouraged foreign investment. Amazon has invested billions of dollars in India operations and Wal-Mart spent $16 billion this year to buy Flipkart. While Amazon and Flipkart were thriving, they were creating a large number of warehouse and supply jobs. The new rule has put restrictions on them which might dampen their business growth and thus hit investment and reduced jobs for Indians,” views Hiren Shah, General Secretary, Federation of IT Associations of Gujrati (FITAG).
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