Bullish on Indian market, compliant with local laws: Amazon India exec

NEW DELHI: Even amid raging controversies and allegations, e-commerce major Amazon is bullish on the Indian market, and is ”absolutely” compliant with laws and regulations in the country, where it has outlined firm commitments around job creation, exports and MSME digitisation, according to a top executive.

Manish Tiwary, Country Manager – India Consumer Business at Amazon India said the company is “not impatient” as it does not have to ”prove anything in the next six months on how we are bigger or better”, and is, in fact, working steadily on its stated goal of transforming the way India buys and sells in a sustainable manner, to create a positive impact in the country.

Earlier this week, in a major setback to Amazon, the National Company Law Appellate Tribunal (NCLAT) rejected the US e-commerce giant’s appeal against an antitrust suspension of its investment deal with Future Group, saying the retailer had not made full disclosures at the time of seeking approval.

NCLAT also upheld a Rs 200 crore penalty imposed on Amazon by the Competition Commission of India (CCI) and asked the e-commerce major to deposit the same in 45 days. It supported the CCI findings that Amazon did not make full disclosures regarding the deal with Future Retail subsidiary — Future Coupons Pvt Ltd (FCPL).

Amazon is also fighting a bitter legal battle with Kishore Biyani’s Future Group.

Tiwary declined to comment on NCLAT order, or disclose the next course of action for Amazon.

”…it is something which has just come out. So the right people are looking at the order. I haven’t been able to spend time on it. So I don’t have any comment at this stage,” Tiwary said.