Flipkart eyes large-vendors to comply with new FDI norms
Country's largest e-commerce company Flipkart has identified at least four large sellers that will help it comply with new foreign direct investment (FDI) regulations announced in March this year.
- Jul 11, 2016,
- Updated Jul 11, 2016 7:05 PM IST
Country's largest e-commerce company Flipkart has identified at least four large sellers that will help the e-tailer in complying with new foreign direct investment (FDI) regulations announced in March this year, according to a report in Livemint.
The new rules announced by the government prevent marketplaces from offering massive discounts besides capping total sales originating from a group company or one vendor at 25%.
Two of the four proposed sellers are Health & Happiness Pvt. Ltd and Consulting Rooms Pvt. Ltd, the website reported.
Flipkart, which follows a more retail-intensive business model sells a number of goods via its in-house vendor WS Retail Services Pvt. Ltd. With four new large-sellers, the company will be able to sell its products under due compliance of new FDI rules.
In March, the government banned foreign investment in direct online retail but allowed 100% FDI in online sales of goods and services under the 'marketplace model', in a bid to make regulations more transparent for the e-commerce companies in India.
Country's largest e-commerce company Flipkart has identified at least four large sellers that will help the e-tailer in complying with new foreign direct investment (FDI) regulations announced in March this year, according to a report in Livemint.
The new rules announced by the government prevent marketplaces from offering massive discounts besides capping total sales originating from a group company or one vendor at 25%.
Two of the four proposed sellers are Health & Happiness Pvt. Ltd and Consulting Rooms Pvt. Ltd, the website reported.
Flipkart, which follows a more retail-intensive business model sells a number of goods via its in-house vendor WS Retail Services Pvt. Ltd. With four new large-sellers, the company will be able to sell its products under due compliance of new FDI rules.
In March, the government banned foreign investment in direct online retail but allowed 100% FDI in online sales of goods and services under the 'marketplace model', in a bid to make regulations more transparent for the e-commerce companies in India.