Companies likely to seek extension of FDI rules deadline for e-commerce
Mumbai, Jan 5 (IBNS): Several online companies, including Flipkart, are likely to seek an extension of the deadline to follow the recent changes in the Foreign Direct Investment (FDI) rules for e-commerce, media reports said.
The deadline is Feb 1.
One of the companies told Economic Times that one month would not be enough to comply with the changes.
The changes in the FDI rules were announced on Dec 26.
Amazon had said it will follow the rules of the FDI.
The US-India Strategic Partnership Forum has said the changes will hurt consumers, Economic Times reported.
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