India relaxes e-commerce investment rules for exports in win for Amazon
FILE PHOTO: Amazon delivery packages are seen outside a shop in Ahmedabad, India, October 5, 2021. Picture taken October 5, 2021. REUTERS/Amit Dave/File Photo
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NEW DELHI, July 23 : India’s government on Thursday eased foreign investment rules to allow e-commerce companies to buy products directly from Indian sellers and then sell them to overseas customers, a major win for Amazon which lobbied for the change for months.
For years, India has prohibited foreign e-commerce companies from selling goods directly to consumers at home or abroad, allowing them only to operate a marketplace to connect buyers and sellers for a fee. The rule has now been relaxed to boost exports, the government said in a statement.
Source: Reuters
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