Chennai: Amazon has put its India investments amounting to around $1 billion, on hold due to upcoming elections and stiff regulatory hurdles that are in place at the moment, reports have stated.
Amazon India is in talks with the government seeking clarifications regarding several aspects of the latest foreign direct investment (FDI) policies to carry on with business as usual.
The report added that it is highly unlikely for policies to change despite a plea from the domestic retail businesses.
Amazon, in the last five years, has invested $3.5-$4 billion in India, part of the $5.5 billion commitment made by the world’s largest e-commerce platform to its Indian operations.