India: Amazon engages with government to drive FDI in e-commerce

Monday 25 November 2013 10:01 CET | News

Global retailer Amazon has teamed up with the Indian government in order to drive foreign investment norms in the e-commerce space.

The company, which launched operations in India in June 2013, currently operates with marketplace model. Under this model, will not sell products directly to customers but only provide a platform to sellers.

Indias Foreign Direct Investment (FDI) policy restricts e-commerce companies from offering services directly to retail consumers. At present, 100 % FDI is allowed in business -to-business (B2B) e-commerce but not in retail trading.
The company, which began operations with just two product categories - books and movies, has now over 15 products categories and has over 1,400 sellers listed on its website.

Amazon entered the Indian online shopping space with its price aggregator and selection website in February 2012.

In recent news, Amazon has launched a new shopping service which allows customers, buyers and other users to browse and pay for items online and using their Amazon credentials.

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Keywords: Amazon, FDI, e-commerce, government
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce