India's e-commerce sector could lose up to $46bn in sales by 2022 after restrictions on foreign investment are implemented on 1 February, according to draft documents from PwC. The rules prevent companies selling goods via firms in which they have an equity interest, or forcing sellers to exclusively use their platforms. Amazon said in a statement it remains “committed to be compliant to all local laws” but has asked the government for a an extension of four months. A report released last month said that the Indian government had approved a plan for setting up of "smart cities" and other initiatives aimed at boosting digital commerce.
India's e-commerce sector could lose up to $46bn in sales by 2022 after restrictions on foreign investment are implemented on 1 February, according to draft documents from PwC. The rules prevent companies selling goods via firms in which they have an equity interest, or forcing sellers to exclusively use their platforms. A report released last month said that the Indian government had approved a plan for setting up of "smart cities" and other initiatives aimed at boosting digital commerce.