Change in e-commerce policy , Walmart optimistic about Indian Market
New Delhi, US retail Walmart, which invested in Flipkart, today said “Walmart’s and Flipkart’s commitment to India is deep and long term”. The company is optimistic despite recent changes in the FDI policy for e-commerce firms in the country.
Revised FDI e-commerce policy
The revised policy, effective from February, has barred online companies like Flipkart and Amazon from selling products of partner companies where they hold stakes. These companies are banned from exclusive marketing arrangements that can influence product price.
The policy further mentions that these firms have to offer equal services or facilities to all its vendors without discrimination.
Why Walmart is effected?
Walmart on August 2018, had invested about USD 16 billion (Rs 1.05 lakh crore) and acquired 77 per cent stake in Flipkart. This deal gave the US retailer access to the Indian e-commerce market.