New govt norms may end Amazon, Flipkart flash sales and discounts

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New govt norms may end Amazon, Flipkart flash sales and discounts Flash sales, discounts may stop; Amazon, Flipkart could suspend selling products of subsidiaries

Flash sales on Flipkart or Amazon might soon be a thing of the past, and the ecommerce giants might also find it difficult to sell products of firms in which they have a stake.The Department of Industrial Policy and Promotion (DIPP) on Wednesday issued a set of additional guidelines for foreign direct investment (FDI) in the sector. Experts said this might not only curb the activities of e-commerce companies, but also prevent some of them, such as Flipkart, from raising any more FDI. The new regulations will take effect from February 1 next year, said the DIPP regulation.There are, however, no penal provisions, which means the government will not be able to prosecute any ecommerce firm that falls foul of the latest regulations.


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New govt norms may end Amazon, Flipkart flash sales and discounts by anika95sharma - Issuu