On Wednesday, the 21st of August 2019, Amazon.com Inc.’s head of Indian unit, Amit Agarwal said that the world’s seventh-largest economy by nominal GDP and third-largest by purchasing power parity (PPP), India, must reduce red flags over its e-commerce restrictions to heave up revenues of smaller businesses selling products online.
Aside from that, Agarwal had also been quoted saying in an interview with a press agency on Wednesday (August 21st) that the third-largest economy of Asia, behind China and Japan, had to leeway exports’ legislations to revive its slowing economic growth.
In point of fact, latest comment from Amazon Executive, Agarwal was brought into light a few days after India had axed its full-year growth projection to 6.2 percent. Apart from that, ahead of a launch of Amazon’s largest campus in the world in the South-Indian city of Hyderabad, Agarwal said on Wednesday (August 21st), “There is so much opportunity to just let ecommerce thrive versus trying to define every single guard rail under which it should operate.
I feel ecommerce can actually accelerate India’s economy in a big way, if it’s just allowed to thrive. ” Nonetheless, India had imposed stiffer restriction on multinational e-commerce moguls likes of Amazon.com Inc.
and Walmart Inc. earlier in 2019, citing US-based tech conglomerates had been hindering growths of India’s own start-up businesses.