Amazon Executive Says Bullish On India, Compliant With Laws
NDTV
Amazon is bullish on the Indian market, and is "absolutely" compliant with laws and regulations in the country, a top company executive said
Even amid raging controversies and allegations, e-commerce major Amazon is bullish on the Indian market, and is "absolutely" compliant with laws and regulations in the country, where it has outlined firm commitments around job creation, exports and MSME digitisation, according to a top executive.
Manish Tiwary, Country Manager - India Consumer Business at Amazon India said that the company is "not impatient" as it does not have to "prove anything in the next six months on how we are bigger or better", and is, in fact, working steadily on its stated goal of transforming the way India buys and sells in a sustainable manner, to create a positive impact in the country.
Earlier this week, in a major setback to Amazon, the National Company Law Appellate Tribunal (NCLAT) rejected the US e-commerce giant's appeal against an antitrust suspension of its investment deal with Future Group, saying the retailer had not made full disclosures at the time of seeking approval.
NCLAT also upheld a Rs 200 crore penalty imposed on Amazon by the Competition Commission of India (CCI) and asked the e-commerce major to deposit the same in 45 days. It supported the CCI findings that Amazon did not make full disclosures regarding the deal with Future Retail subsidiary -- Future Coupons Pvt Ltd (FCPL).
