After Vodafone Plc’s Chief Executive Officer sought policy intervention to revive the telecom sector, Jeff Bezos, Founder, Amazon, has sought regulatory stability in India.
“Regulatory stability is the thing that we would always hope for India. Whatever the regulations are ... they are stable in time and that’s one of the things we’re hoping will now be true. We'll see,” Bezos, 55, told reporters on the sidelines of his induction into the National Portrait Gallery, according to a PTI report.
Bezos’ comments assume significance in the light of recent attempts by the Centre to roll out an e-commerce policy. Recently, Commerce Minister Piyush Goyal had said that the government is probing WalMart-owned Flipkart and Amazon over the alleged predatory pricing.
In October, US Commerce Secretary Wilbur Ross had said that Amazon is spending one-third of what it spent the year before in capital expenditure.
“It would probably have spent a lot more in India if it didn’t feel that there wasn’t a diminution in growth due to some of those (e-commerce) policies,” Ross had said.
Bezos said that Amazon was doing “extremely well” in India, but hoped for regulatory stability in the country.
This is the second global executive to raise concerns over India’s regulatory regime.
Vodafone Plc’s CEO Nick Read was quoted by Bloomberg saying that its venture in India is at a critical situation and urged the government for a package for the telecom sector.
“If you don’t get the remedies being suggested, the situation is critical,” Read said.