Manjunath Kiran | AFP | Getty Images
An employee of Amazon India walks toward a security gate at the company’s newly launched fulfillment center on the outskirts of Bangalore.
With parliamentary elections set to be called by May, one analyst described the situation as political “posturing.”
“The enforcement of the same (rules) is a different issue altogether and is dependent on how these companies interact with the policymakers, display intent and … policymakers’ willingness to seek a middle ground,” Ankur Bisen, a senior vice president at Indian management consulting firm Technopak, told CNBC by email. He explained that the situation is expected to stabilize later in the year once the government issues more clarity on the changes.
As Amazon attempts to comply with the new rules, more than 400,000 items available on its Indian site could temporarily disappear, the New York Times reported last week. That would account for nearly a third of Amazon’s estimated $6 billion in annual sales in India, the paper said.
On Wall Street, analysts mostly stuck by the internet juggernaut, tweaking estimates and lowering price targets slightly.
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