STRENGTHEN NORMS ON SALE PRODUCTS
Government has tightened certain norms for the eCommerce firms, such as Amazon and Flipkart on Wednesday. It has put forth several measures that bar eCommerce companies from selling products of companies they hold a stake in. Apart from this, The Commerce and Industry Ministry prohibited these companies from entering into agreements for the exclusive sale of products. "An entity having equity participation by eCommerce marketplace entity or its group companies, or having control on its inventory by eCommerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity," stated the Ministry. It was also said that the vendors should be provided with services on a marginal platform in a fair and non-discriminatory manner by the revised policy on foreign direct investment in retail firms. For the foregoing revenue the respective company every year by September 30 has to file a certificate ...