After Walmart, now Amazon is planning to enter in India in multi-branded retail format, it has decided to send its top brass to the country to suggest for the policy change, so as to allow its entry in India, states Business Line.
An official said, “Amazon was disappointed that the foreign investment policy liberalisation for retail announced last year did not include e-commerce. It is expected to lobby hard for a policy change.”
Paul Misner, Vice-President, Global Public Policy, Amazon.com, is expected to lead a team of officials to India in the coming week for discussing the possibility of re-working the policy and to allow FDI in e-commerce in India. Paul Misner will be meeting Commerce & Industry Minister Anand Sharma for the same.
“This can be seen as a strategy applied by the company to make its presence felt amongst online shoppers in India before it is allowed to enter the country,” another official said.
The DIPP official said, “The Government may look at coming out with a separate policy paper on FDI in e-commerce. However, nothing concrete has happened in the area yet.”
The revised FDI policy announced in September last year for retail, blocked foreign investments in e-commerce and allowed up to 51% FDI in multi-brand retail stores and 100% FDI in single-brand retail.
Went online in July 1995, Amazon.com states itself as the world’s largest on-line retailer, it had also launched Junglee.com in India last year.Category Ecommerce News