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The USTR did not respond to a request for comment. The U.S. Embassy in New Delhi, and Indian trade ministry spokeswoman Monideepa Mukherjee, declined to comment. Asked about the Indian policy’s implications, Walmart spokesman Greg Hitt said: “We certainly, as you would expect, have engaged the (United States) administration on this issue.” He declined to share further details. Amazon India said it was committed to complying with local laws but it needed “adequate time to understand” the policy.
Amazon and Walmart have both made bold bets to tap India’s booming e-commerce market, which Morgan Stanley had estimated, before the latest government move would grow 30 percent a year to $200 vivienne westwood cufflinks billion in the 10 years up to 2027, The companies have targeted a growing population of tech-savvy shoppers in India, luring them with deep discounts on everything from dishwashers to smartphones, India’s small traders and shopkeepers had for years complained that e-commerce companies were engaging in predatory pricing and hurting the businesses of brick-and-mortar retailers..
They alleged that the online retailers used their control over inventory from their affiliates to create an unfair marketplace that allowed them to sell some products at lower prices. Such arrangements would be barred under the new policy. “We are disappointed more than surprised. It makes it harder to plan things,” a U.S.-based Walmart source told Reuters. “It is a serious issue. We are doing our best to work with Indian authorities and trying to explain why this is bad for business.”.
The Confederation of All India Traders, which has supported tougher scrutiny of large e-commerce players, said the companies were acting “desperate” by pressurizing the Indian government, “Any deferment or change (in the policy) will adversely affect millions of small businesses,” said the group’s vivienne westwood cufflinks secretary general, Praveen Khandelwal, Both Walmart-owned Flipkart and Amazon have requested the government to delay implementation of the policy, but India is unlikely to relent..
Indian officials have told Reuters no relief was likely as the policy was seen helping the small trader community, who form a critical voter base for Modi. “The idea is just to win over the trading community ahead of elections and on that point the government will not budge from the deadline,” a second Indian trade ministry official said. At stake are big ticket investments. When Walmart bought Flipkart last year, it said the decision underscored its “long-term commitment to India”.
Amazon has committed to investing $5.5 billion in the country and Modi has in recent years met its founder Jeff Bezos multiple times, In 2017, Bezos said he was “excited to keep investing and growing” in the country, That investment climate vivienne westwood cufflinks has turned sour with sudden policy changes, Prasanto Roy, a New Delhi-based consultant who closely tracks India’s technology policy landscape, said the government should provide stable policies to attract investment, “You can’t change policies overnight without consultation and tell companies who have invested billions to go fly a kite,” Roy said..
PARIS (Reuters) - Jean-Dominique Senard, the new chairman of French carmaker Renault (RENA.PA), said he would focus on talks to cement Renault’s alliance partnership with Japanese peers Nissan (7201.T) and Mitsubishi (7211.T). “It’s important that this alliance remains extremely strong,” Senard told reporters at a news conference where Renault also unveiled the promotion of deputy CEO Thierry Bollore to chief executive. “It’s our compulsory duty to go forward together,” said Senard, who joins Renault from tire maker Michelin (MICP.PA) where he was CEO.
BEIJING/SEOUL/PARIS (Reuters) - Somber results from chipmakers SK Hynix Inc (000660.KS) and Texas Instruments Inc (TXN.O), on the heels of warnings from tech behemoths Samsung and Apple, indicate more gloom for the sector as China’s economy slows to its weakest in decades, A raft of earnings, analyst notes and market commentary in recent weeks have confirmed that a slowdown in the world’s vivienne westwood cufflinks No.2 economy, exacerbated by its crippling trade war with the United States, will continue to squeeze sales and profits at technology companies, at least in the first half of the year..