Reuters was first to report that Amazon has warned India’s antitrust body that revoking its 2019 deal with Future Group would send a negative signal to foreign investors and allow local retail behemoth Reliance to “further restrict competition.” The Competition Commission of India is reviewing its prior approval of the $200 million investment the U.S. company made in a Future unit in 2019, amid allegations that Amazon concealed facts when it sought approval for the transaction. While Future is staring at liquidation, the legitimacy of the small $200 million deal could have far-reaching consequences for India’s retail sector.
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