India Cracks Down on Foreign Retailers — Reuters


Trouble ahead for Walmart, Amazon and other foreign multinationals that want to do business in India:

“New Delhi is clamping down on a long-standing policy to keep foreign investment out of big retail. It means Walmart, which recently ploughed $16 billion into India’s Flipkart, and Amazon can no longer sell products from companies in which they own a stake, nor push vendors to hawk goods exclusively through their online services. They must also ensure they account for no more than a quarter of any merchant’s purchases.”

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