NEW DELHI (Reuters) - Amazon asked the Indian government on Thursday not to change e-commerce foreign investment rules until investigations into its business practices had been concluded, two sources familiar with the discussions told Reuters. The commerce ministry met e-commerce players after allegations by retailers, which are a crucial part of Prime Minister Narendra Modi's support base, that Amazon and Walmart's Flipkart create complex structures to bypass federal foreign investment rules and damage small traders. New Delhi has been considering revising e-commerce foreign investment rules for weeks. Amazon told Reuters in a statement it welcomed the government consultation process and the foreign investment policy "needs to be stable and predictable for investor confidence". The rules also place other restrictions on the foreign players, which are locked in a battle with Reliance as it expands its e-commerce operations.

Source: The Star March 25, 2021 12:22 UTC