The company has said that they have provided certain marketing tools and logistic services to third party sellers to enable them to sell online and deliver to customers.
Amazon created quite a stir over the weekend with the US online retail giant saying that uncertainties over Indian regulations may even force the company to shut shop. The company made this statement in a filing with the Securities and Exchange Commission.
In a statement to CNBC-TV18, the company has clarified that it does not plan to hold back on its USD 2 billion investments plans in India.
The company has said that they have provided certain marketing tools and logistic services to third party sellers to enable them to sell online and deliver to customers.
While the company believes these structures and activities comply with existing regulations, some governments including China and India may have a view contrary to theirs. So, essentially what they are saying is that there are uncertainties in these two geographies and that they have made provisions in order to ensure that these uncertainties do not impact the company.
The company has reiterated that India has been covered as a part of its International market segments and they have covered India under risk factor section of its 10-Q, largely because India explicitly has become a major growth market.
They have also confirmed that USD 2 billion plan for India holds for now. There are no plans in terms of cutting down investment, cutting down on their expansion plans they are in fact substantially expanding.
However the regulatory uncertainties do hold. Sources say the Enforcement Directorate (ED) has asked some basic questions with respect to the ownership structure of Amazon and that is the basic concern that they have.
The Commerce Minister had recently said that e-commerce cannot be a back door entry to multi-brand retail (MBR). So that is the big concern in this case.
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