Contrary to the perception that the new FDI rules governing e-commerce sector would impact Amazon’s India operations, the online retailer said it was happy to see clarity in regulations and would invest more in the country.
“We’re happy to see the recent clarifications. We’re happy to operate in any regime and frankly more the clarity, the better,” said Phil Hardin, Head of Investor Relations at Amazon, in a call with investors. Amazon said it plans to double its investments in the country this year. The investments from Amazon come at a time when domestic players such as Flipkart and Snapdeal are facing tough time raising fresh funds. The Centre had recently spelt out new regulations that restrict e-commerce firms with FDI from giving out deep discounts to acquire more customers. Amazon, being an American firm, would come under the new regulation.