Morning News from India - December 27, 2018 Tweet27 Dec 2018
Markets & Economy
- India’s Tighter E-Commerce Rules Frustrate Amazon and Walmart Plans (WSJ) - AMZN, WMT
Current rules forbid non-Indian online sellers from holding their own inventory and shipping it out to consumers, as is typically done in other countries. Instead, they have found a work-around by operating as online marketplaces and selling what are effectively their own products held by their affiliated local companies.
They will no longer be allowed to sell such goods, a division of India’s Commerce and Industry Ministry said in a statement Wednesday, an apparent attempt to close that loophole.
The new rules, which take effect Feb. 1, also bar foreign companies from entering into exclusive agreements with sellers. Amazon, for example, has in the past been the exclusive third-party online retailer to sell smartphones from the popular Chinese smartphone brand OnePlus.
- Foxconn to begin assembling top-end Apple iPhones in India in 2019 (CNBC) - AAPL
- Flipkart, and the Ballad of the Bansals (Livemint) - WMT
US listed Indian companies
- Indian IT services cos expected to grow at 9-12% CAGR during FY18-21: ICRA (Livemint) - WIT, INFY
- Tata Motors, group firms working on electric car plans: Chandra (Livemint) - TTM
- Inspection Of Six Firms Linked To ICICI Bank Controversy At ‘Advanced Stage’ (Bloomberg Quint) - IBN
- Vedanta To Invest $8 Billion Over Next Three Years, Says Anil Agarwal (Bloomberg Quint) - VEDL