Many foreign companies find it tough to succeed in India, and one reason, according to Binny Bansal, the co-founder of Indian e-commerce firm Flipkart, is their inability to deal with India's unique environment.
The government announced that e-commerce firms could no longer form exclusive selling arrangements with sellers or offer steep discounts to consumers based on those deals.
"When we started, there were very few policies. But in 2018, 19, if you want to start an e-commerce company, you have to really go through what can you do, what can you not do," Bansal continued.that there is "much uncertainty" regarding the impact of the rule changes on India's e-commerce sector. "Our main issue and our main concern is trying to minimize the impact to our customers and sellers in India," he had said.
"Retail also employs lots of people. That is why politicians will protect local retailers whose profits may be challenged by multinationals," he added. "Many other sectors may not face as much scrutiny or regulation."
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