Amazon and Walmart hit hard after new e-commerce rules in India restrict sales [The Verge]
Walmart Inc. (WMT)
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Source: The Verge
Amazon and Walmart hit hard after new e-commerce rules in India restrict sales New e-commerce rules in India have plunged and Walmart’s local operations into disarray, as the retailers struggle to comply with new restrictions in a key growth market. The legislation was outlined last year According to reports from Bloomberg Reuters bought a majority stake The New York Times Hundreds of thousands of items are thought to eb affected Between them, and Flipkart account for more than 70 percent of online sales in India, meaning the changes will likely cause widespread disruption. Both companies previously petitioned the Indian government for extensions to the old regulatory regime. asked for four months’ extension and Flipkart reportedly asked for six months. “With over [400,000] sellers and hundreds of thousands of transactions happening daily on the India Marketplace we need adequate time to understand the details of the policy,” a spokesperson for told CNN The rules are likely to ho
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