Home / Knowledge / News / E-commerce / Amazon has bounced back in India after short downtime: CFO

Amazon has bounced back in India after short downtime: CFO

01
May '19
Amazon has bounced back in India after short downtime: CFO
US online retail firm Amazon recently said because of recent changes in India’s e-commerce regulations, it had to face downtime in the country, but it has bounced back since then. Amazon’s senior vice president and chief financial officer Brian T Olsavsky said the company had to make structural changes to comply with all new regulations in India.

The impact was minimal for the full quarter and the company is compliant now, said Olsavsky.

Analysts say Amazon, which has so far invested over $5 billion in India, is expected to step up its investments in the country, especially after its recent exit from China, according to Indian media reports.

The revised e-commerce policy, announced last December, had barred e-commerce players from selling products through entities in which they own a stake. Vendors were also not allowed to have more than 25 per cent of their revenues coming from a single platform.

The new rules, which came into effect from February 1, 2019, also stopped online retailers from selling goods exclusively on e-commerce platforms.

Besides Walmart’s Flipkart, Amazon will face competition from the e-commerce business of Reliance Industries Ltd (RIL) that is yet to be launched. Reports indicate Amazon’s investment could probably depend on how RIL rolls out its plan.

While announcing its financials, Amazon last week said the company is working on making its Prime free two-day shipping programme to be a free one-day shipping programme. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: B.Zhou / Shutterstock.com

Retail | On 27th Feb 2020

Retail brands restrict China operations amid COVID-19

The outbreak of COVID-19 is disrupting business dynamics in China....

Interviews View All

Frank Gossmann, Rotorcraft AG

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Textile industry, Head honchos

Textile industry
Head honchos

It is a well-calibrated budget

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Fan Liyuan,

Fan Liyuan

Chinese company Jiangsu Yingyang Nonwoven Machinery, established in 1993,...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search