The comical nature of India’s foreign investment regulations came to the fore in April this year. That’s when the Department of Industrial Promotion, a commerce regulatory body under the country’s Ministry of Commerce, told Amazon that it could not sell food and groceries alongside all the other products it sells online, such as smartphones, apparel, furniture, etc.

By then, Amazon had already set up a separate subsidiary to enter the food and grocery business and had planned to invest Rs 3,500 crore ($509.25 million) into this venture.

AUTHOR

Vivek Ananth

After dabbling with an auditing job and then at a software product company, Vivek Ananth has decided to take the plunge into journalism. In his last assignment, Vivek was at Cogencis, a financial newswire. A Chartered Accountant, Vivek completed his post-graduate diploma in journalism from IIJNM Bengaluru in 2016. At The Ken, Vivek will write on the intersection of technology and business.

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