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Is it time to say goodbye to massive online discounts?

28 December, 2018 4:33 AM
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Watch this Report's take to know more about the recent change in FDI policy and how it affects online discounts and cashbacks.

Amazon and Walmart-owned Flipkart will suffer a big blow as the government has barred them from selling their own goods while also putting an end to deep discounts and cashback schemes offered by them.

According to the new rules, ‘inventory of a vendor will be deemed to be controlled by e-commerce marketplace entity if more than 25 percent of purchases of such vendor are from the marketplace entity or its group companies’.

“An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity,� the DIPP said.

Source: moneycontrol.com

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