Indian trader group says minister pledges strict foreign investment rules for e-commerce

By Aditya Kalra and Krishna N. Das
FILE PHOTO People move past a hoarding of Amazon India outside a metro rail station in New Delhi India October 23 2019. REUTERSAnushree FadnavisFile Photo

FILE PHOTO: People move past a hoarding of Amazon India outside a metro rail station in New Delhi, India, October 23, 2019. REUTERS/Anushree Fadnavis/File Photo

NEW DELHI (Reuters) - An India trader group representing millions of brick-and-mortar retailers on Friday said it has received government assurances that stringent changes will be made to foreign investment rules for e-commerce, a move that could hit Amazon.com Inc.

Reuters exclusively reported this week India was considering revising the policy after complaints from traders who accuse Amazon and Walmart Inc's Flipkart of creating complex structures to bypass investment rules. The U.S. companies deny any wrongdoing.

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