Amazon’s food-only retail business will stop selling on Amazon.in if the government’s latest foreign direct investment (FDI) guidelines remain unchanged by next month.
This would be a blow for the initiative as Amazon was the only foreign retailer to have committed investment — to the tune of $500 million — in the food retail segment after it opened up in mid-2016. In addition, Amazon’s planned acquisition of a stake in Future Retail may be delayed, people familiar with the matter told ET.