The e-commerce company, Amazon, withdraws Mobile related products and batteries. Government’s FDI policy related to e-commerce is the reason behind it. Amazon and Walmart recorded an estimated loss of $ 5 billion in market value after the new policy was implemented.
Amazon’s withdrawal list also has a long-range option. According to the new policy, this is the reason why they are unable to sell the products of the shareholders in the e-commerce platform of foreign companies. Amazon can no longer sell products of cloud tail, which has shared in shareholders on their platforms. According to the Times of India report, Amazon Basics currently does not have a list of products.
The e-commerce policy that came into effect on the first of this month is a threat to the Flipkart with Walmart investment. Flipkart said the government policy to implement this was disappointing.