New FDI norms to create 'customer disruption', warns Flipkart: Report

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New FDI norms to create 'customer disruption', warns Flipkart: Report

Jan 30, 2019 18:17 IST

Flipkart has reportedly written to the govt, asking it to delay execution of the new FDI norms by 6 months. The e-commerce giant warned that difficulties faced by the firm could cause 'significant consumer disruption'. Implementation of the new FDI norms from the 1st of February will reportedly bar companies from selling goods of firms in which they have equity stake and will also end exclusivity on all products. Walmart-acquired Flipkart said that the sudden change forced them to divert significant funds hindering their investments, along with raising compliance costs.

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