Thread by @AIOVA3

@adamscrabble @lilchiva @rravi @MaxiOesing We can do a story.
1. The Indian Foreign Exchange Management Act compliance under Reserve Bank of India which is the Central Bank. The Act requires certain compliance for which there is a vigilance agency Enforcement Directorate @dir_ed which also investigates money laundering

@adamscrabble @lilchiva @rravi @MaxiOesing 2. The Commerce Ministry @CimGOI has a Department for Industrial Policy and Promotion @DIPPGOI which has recently been renamed Department for Promotion of Industry and Internal Trade (DPIIT)
India has traditionally prohibited foreign companies from various sectors (see coca cola)

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI 3. Retail has always been closed for outside investors. However since 1991, there has been demand by MNCs like Metro, Walmart to open this sector in order to "improve supply chains", "benefit consumers", etc
There was talk in 2000 to open it up but met with huge opposition

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI 4. BJP governments 2014 elecrion manifesto is against FDI in Retail.
There were huge protests in 2012 when Congress tried to open it up. @MamataOfficial left the government coalition due to this issue.
ndtv.com/cheat-sheet/bj…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 5. Mamata Banerjee withdraws support to UPA government, ministers to resign on Friday
timesofindia.indiatimes.com/india/Mamata-B…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 6. All these policies are framed by @DIPPGOI DPIIT and released regularly.
Now the FDI Policy is very complicated and covers many sectors, routes, terms and conditions, dos and donts, limit of foreign participation etc.

en.m.wikipedia.org/wiki/Foreign_d…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 7. In retail it was bifurcated in many ways over the years with riders and terms and conditions. Multi brand retail (51% foreign), single brand retail, food retail, ecommerce, ecommerce marketplace etc.
For B2B they allow 100% FDI
google.com/amp/s/www.theh…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 8. Apart from FDI policy, there is no seperate law, Act, Department where retail, multi brand, etc are defined.
Thereby, only when the question of foreign players came in, government defined rules for foreign investments. No rules for Indian companies.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 9. Ebay is there in India since 2004 when they took over Bazee a local website. Ebay is a pure play marketplace globally. Apart from Ebay there were many Indian owned ecommerce retailers like Indiaplaza, Infibeam who carried out trading (not a marketplace) m.rediff.com/money/2004/jun…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 10. As the foreign owned Ebay was not carrying out trading or retailing, and the policy being silent on Marketplace or Technology platform ebay was carrying on seamless business. However the question of law never came as Ebay never carried out predatory practices.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 11. Few global companies saw this as an opportunity and invested in funds running out of NYC who raised funds in Cayman, Jersey etc and started the "startup wave" in India in 2011-14. Unknown entrepreneurs were receiving millions from abroad to do as per their masters wishes.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 12. Flipkart - started in 2008 by 2 ex amazon tech managers. Follows Amazon model.
Snapdeal - started as a coupons site in 2010 followed Ebay model.
Alongwith them hundreds of "startups" jumped on the ecommerce wagon from 2011 seeing cheap FDI.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 13. Flipkart started as a book retailer just like Amazon and then diversified into other products. All was compliant until they started raising funds led by Tiger Global (fund registered in Cayman) to accelerate growth.
Flipkart was doing retail
vccircle.com/flipkart-raise…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 14. Snapdeal also raised funds from various investors and then from Softbank and Ebay. Snapdeal was not retailing, they were a pure marketplace for sellers like Ebay was and they too raised funds to accelerate growth.

google.com/amp/s/yourstor…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 15. What was this "growth"? It was always a vanity metric called GMV which cannot be audited, reported or calculated accurately.
To attain GMV targets, they raised funds, not to invest in technology or expansion, but to do deep discounting.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 16. Through this modus operandi of generating sales by deep discounting, they managed to get growth, but always were in need of fresh FDI which their investors kept on supplying.
This is circa 2011-2013 when general public believed this discounting will stop soon

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 17. But this would not stop due to regular fund raising. This irked the mom and pop stores, retailers, brands etc whose footprints, offline channels, etc all were being lost due to Flipkart and Snapdeals deep discounting policy. Ebay never earned the wrath of the mom and pops

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 18. The BJP which is now ruling the country was opposed to these issues and traders which have been a traditional vote bank for them supported them in elections.
The ED was forced to open investigations on Flipkart who was doing retail with FDI.
m.economictimes.com/tech/internet/…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 19. "Flipkart is not the only e-tailer on ED’s radar, is also probing Myntra.
This probe came to light when in 2012 Anand Sharma the then commerce & industry ministry informed the Parliament about ED's scanner on Flipkart."
Myntra was later bought by FK
m.economictimes.com/industry/servi…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 20. However as soon as BJP came in, the ED investigations on Flipkart stopped. Quid Pro Quo.
All news reports buried. Files burned. This is 2014 when people were giving the government time to settle in.
financialexpress.com/archive/ecomme…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 21. The excuse : "Foreign Exchange Management Act only deals with compliance in receiving foreign investment by entities in specified sectors. Investigating what the company does with such funds is not within the scope of this law, said a source."

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 22. Snapdeal which was running a pure play marketplace was merrily expanding, breaching GMV records, buying companies, becoming the blue eyed tech boy, and still doing deep discounting due to absence of any laws or regulations for this sector. It was valued at USD 10 Bill then.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 23. 2014 is when things start taking a turn.
Amazon now enters the market.
Till now their presence in India was limited through Junglee which they bought in 1998.
The loose laws and enforcement was an attraction for Amazon.

cnet.com/news/amazon-to…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 24. Amazon was the first deeply funded non Indian company to enter as a "marketplace" in India and their marketplace was attractive to sellers fed up of Flipkart and Snapdeals attitude and ethics.
Mom and pops were now worried about the uncontrolled discount funding of Amazon

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 25. We are in 2015 now, Flipkart has started becoming a marketplace to show that their FDI policy violation days are gone (more on that later)
Amazon, Snapdeal, Jabong, Myntra and dozens of companies are funding discounts through FDI in their marketplace.
Billions of dollars

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial 26. They would always escape by saying they are a marketplace and not doing retail.
That is when @ashwani_mahajan of @swadeshimanch starting raising the discourse that Marketplace is not mentioned in Indias FDI policy which means it cannot run with FDI.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch 27. In 2015 Multiple organisations like @TEAMCAIT @rai_india @IAMAIForum got frustrated of government inaction and took the government to court expecting this deep discount funding, predatory pricing, etc to stop.
This has been summarised in this link
newsbytesapp.com/timeline/Busin…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 28. Now the government and the billions of questionable sources of investments were in a big trouble.
So they did the best that any government does, a cover up.
Before the coverup lets focus on Flipkart and Amazon retail part

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 29. Amazon started off as a retailer through ecommerce before going on and opening it to "third party merchants" as a marketplace.
Amazon is now playing a dual role in USA as a retailer and a platform something which is now being talked about. We call this a hybrid marketplace.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 30. Flipkart started off in the same way until they were forced to become a marketplace in 2014 due to foreign investment laws.
Now this the difference between Indian and USA hybrid marketplace model.
Amazon USA can issue Bill of Sale of goods to Consumers. Amz India cannot (FDI)

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 31. So Flipkart instead of issuing bill of sale of goods to consumers formed a separate company WS Retail which acted as a sole seller till 2013-14 on Flipkart marketplace doing sales of $500 Million best summarised in below report:
caravanmagazine.in/vantage/flipka…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 32. This is the Indian hybrid marketplace model where shell companies without FDI are formed to act as sellers on the marketplace. Till 2015, flipkart marketplace would use FDI to funds the losses on sale by such shell company.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 33. Loophole, Circumvention, violation of spirit of policy, this is what everyone was openly saying. Government remained silent.
Amazon saw this as an opportunity and used this "jugaad" to enter the market forbidden to Walmart, Metro, and competitors.
en.m.wikipedia.org/wiki/Jugaad

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 34.Amazon tied up with "IT Billionaire" Narayan Murthy (a front) and formed a business with a complex holding and investment structure. This structure is now known as Cloudtail, largest seller in Amazon India.
While this JV seems to be compliance, the....

forbes.com/sites/sarithar…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 35. ... structure was such that Amazon Asia Pacific held 51% in a company which held 100% of Cloudtail. Thereby technically making Cloudtail an Indian company. The balance 49% is a big mystery. Perception it is owned by Murthy, in reality the funds are of Hober Mallow Trust

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 36. A hybrid marketplace hurts the third party merchants selling on the marketplace in many ways and we have written lot on it. Now a hue and cry has started globally with Amazon being the sole big hybrid marketplace. EU has already begun work.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 37. Now we are in 2015, traditional retailers, mom and pops, malls, retail giants, brands, are complaining about deep discounting of all FDI marketplaces. The new breed of online retailers whom we represent are complaining about discrimination in hybrid marketplace.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 38. Legal fights, petition to government, ministers, call from traditional supporters to stick to mandate, all hell breaks loose. And heres how the government begins their first cover up in Feb 2016, this silences all voices, answers critics and disposes legal cases.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum 39. Instead of concluding investigations, wrapping violators, bringing industrial laws, the DIPP then headed by @amitabhk87 releases a "Press Note" 3/ 2016. This "clarified" that Marketplaces can run with 100% FDI without any permission but subject to (pic)

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 40. Points 2-7 were important "clarifications" to curb existing set ups, point 11 took care of "influence pricing" which was deep discounting. And point 9 was important for seller ecosystem.
In a nutshell, the entire gig was "clarified" to be "legal"

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 41. Reaction from @swadeshimanch @ashwani_mahajan is below :

"The websites have been indulging in malpractices by giving unreasonable discounts. This is predatory pricing. The government instead of punishing them has rewarded them with this move,"

m.economictimes.com/industry/servi…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 42. This was a smart cover up by government. And @amitabhk87 was rewarded by being made CEO of @NITIAayog .
While @ashwani_mahajan was unhappy with the move, @TEAMCAIT and other litigators were satisfied. They withdrew their case in May 2016(very imp)

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog 43. Why do we call this a cover up?
Because this Press Note 3 was just words. It was just a press release of a government decision. It was still not a law or ratified under existing laws.
The terms and conditions were so vague and monitoring of the same was not defined.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog 44. Around this time we had started our movement from a small base of 100 sellers and we wrote to the government asking them to intervene against the unfriendly policies of marketplaces. Our each letter was forwarded to @DIPPGOI now headed by @rabhishek1982 under @nsitharaman

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman 45. Our motive of strengthening our growing industry led to uncovering of this sinister plan.
Whenever our letter would end up with @DIPPGOI we would get a reply that they have issued Press Note 3 which has to be implemented by @RBI and investigated by @dir_ed

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 46. Here we are not against FDI nor were we complaining regarding violations of Press Note 3. But any query regarding marketplaces would have a template response. We had a call with @rabhishek1982 who asked us to write a letter (pics)
Now this is funny.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 47. Our letter focussed on industry issues. We cared least about a marketplace being foreign or India.
After the letter, we waited for response. In the end, we were given a sweet reply to talk to @RBI
We sought details of whom to contact in RBI, this revealed the cover up

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 48. The Press Note - the basis of which market was making changes, litigation were being withdrawn - was not only far from being enforced but it was still not a law.
On relentlessly pursuing @rabhishek1982 for months on twitter, RBI notified it under FEMA Act in Feb 2017.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 49. RBI and ED did nothing.
DIPP headed by @rabhishek1982 under @nsitharaman did nothing.
Whenever we used to complaint regarding malpractices or sellers issues, we were shown Press Note 3. Once when we showed that the concerned marketplace has no FDI, please help, they said BYE!

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 50. Amazon, Flipkart were now getting "compliant" to Press Note 3. How? By choosing to self comply selective clauses while ignoring other clauses.
Flipkart made multiple shell companies to comply 25% rule. Other rules uncomplied.
They called it a "tweak"
livemint.com/Companies/3kuo…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 51. Amazon didnt care. Went full force on Cloudtail knowing well that no one is going to come and look at 25% clause. 25% of what? GMV, Comission revenue? Total net sales? Again GREY AREA.
thirdeyesight.in/articles/amazo…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 52. Snapdeal started to loosely comply to the Press Note Point of "not influencing prices directly or indirectly" . But Amazon and Flipkart through their shell companies indirectly controlled prices by charging them zero fees for selling on platforms vis a vis 30-40% for sellers.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 53. 2016-2017 was tough for Indian economy. Nov 2016 Demonetisation. 2017 GST taxation regime transition. This created a slow down, credit squeeze, low consumption.
This all worked benefits for Amazon and Flipkart.
Snapdeal lost the plot and faced turmoil.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 54. Other competitors either were bought out or were perished due to the wrath of AMZ and FK
Our woes were going to deaf ears of @rabhishek1982 and @nsitharaman
The former even publicly claimed discounts were being given by "sellers" and not Marketplace.
bgr.in/news/online-di…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 55. A big circus was created for amz and fk to carry on what they were always doing. Multi brand retail in the garb of a marketplace.
Flipkart received huge funding from Softbank in 2017 followed by being "bought out" by Walmart in 2018.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 56. Fed up of @rabhishek1982 and @nsitharaman and the government for not giving an alternate department to express our woes, we decided to go into an offensive and wrote to multiple government agencies who were obviously not allowed to take suo moto action.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed 57. In 2018, a repeat of 2015 was happening. @TEAMCAIT petitioned the courts against government exposing the modus operandi for which we provided inputs. Separately, an NGO also file a Public interest litigarion through @pranavsachdeva_
m.economictimes.com/industry/servi…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ 58. We had also petitioned @CCI_India with strong facts which showed Flipkart was running a hybrid marketplace.
In may 2018 walmart "purchased" flipkart and again the 2014 sentiment of a global giant united all parties like @swadeshimanch @TEAMCAIT etc

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India 59. @ashwani_mahajan asked the government why they are not taking action on violation of policy. @TEAMCAIT and us asked why there are no regulations, legislations etc.
Walmart deal was approved by @CCI_India in a shady manner. And Walmart could now take advantage of this set up

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India 60. Government was now again in a sticky wicket. By this time @sureshpprabhu had replaced @nsitharaman but @rabhishek1982 still heading DIPP.
There were litigation, public outcry, media statements every day.
Somehow @TEAMCAIT petition was disposed off due to jurisdiction.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 61. PIL of @pranavsachdeva_ hearing was adjourned multiple times by court and november heading was adjourned till january 2019.
Again a cover up by government this time through @rabhishek1982 under @sureshpprabhu

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 62. In Dec 18, @DIPPGOI issued a new "clarification" called Press Note 2/2018 which clarified further what FDI marketplaces can do and not do. The implementation of the same was set as March 1, 2019. Alongwith a requirement of a compliance certificate.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 63. Again this is a "clarification" and just a "press note"
But this takes care of PIL of @pranavsachdeva_ which gets disposed off in March.
m.economictimes.com/small-biz/star…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 64. The new "clarification" brought sharp reactions from Amazon, Walmart, their cheerleaders, US Government. Everyone called this an overnight change.
However it was just a "clarification".
"Clarification" was "clarified" by a press release of @DIPPGOI

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 65. Question is, if it is a clarification, how can it be implemented post dated and not retrospectively, this will never get a "clarification" as @rabhishek1982 knows its better to be silent when being uncovered.
RBI made this into a law, but again, a cover up.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 66. 2 days before the deadline, RBI notified it under FEMA Act, but conveniently removing the compliance certificate requirements. Why or what made them omit this will never be answered. But this gives a leeway to Amz and Fk.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 67. Amazon pulled off a publicity stunt once the policy was implemented by removing all products of Cloudtail for a period of 6 days before making a "comeback"
livemint.com/industry/retai…
financialexpress.com/industry/sme/a…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 68. They "changed" holding structured to comply with the new policy. Thereby complying to 1clause but still violating other clauses.
While Cloudtail was away, their products were being sold by new sellers who cropped up overnight with same catalog.

m.economictimes.com/industry/servi…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 69. Walmart made no changes in Flipkart.
Instead they plan to open more shell companies.
Amid all the global hues, cries, tear shedding, business went on as usual and government was able to again cover up.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 70. Till today @dir_ed is saying we are investigating Flipkart and Amazon. But that will have no result nor will it have any impact. The liability is now too minuscule for them.
telecom.economictimes.indiatimes.com/news/ed-invest…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 71. In a nutshell, when @lilchiva says,
India made a law - sorry there is not law.
You can be - only if your .com is FDI funded by even $1
I dont know if thats suffient - it is deficient at mass proportions
in the right direction - HaHaHa *slow clap*

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 72. Companies like Bigbasket, Grofers smartly escape the crutches of this FDI policy by making the .com a shell Indian company with no FDI.
Amazon can also do it overnight. Just need a front man willing to sign whereever Amazon says. We have 1.5 Billion people

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 73. If you are a domestic marketplace in India like amazon is a domestic marketplace in USA, there are absolutely no rules even though industry demands the same. This is todays news report on @TEAMCAIT which has our inputs
retail.economictimes.indiatimes.com/news/e-commerc…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu 74. We are left with hybrid marketplaces who are deeply funded and flouting all policies and laws.
Any action on them becomes a diplomatic situation.
EU, @linamkhan , us have said and done everything.
But governments are being controlled by them
economictimes.indiatimes.com/industry/servi…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu @linamkhan 75. We have a new @CimGOI who is the vastly experienced @PiyushGoyal who has taken this up as his first task and also issued a statement acknowledging the circumventions. But again entire discourse is on FDI.
thehindubusinessline.com/economy/policy…

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu @linamkhan @PiyushGoyal 76. While he is yet to grant us an appointment nor were we included in his stakeholder meetings, we have the solution which @lilchiva calls right step towards the direction.
Not sure if @realDonaldTrump would implement the same in USA.
It requires a tight legislation.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu @linamkhan @PiyushGoyal @realDonaldTrump 77. We already have a precedent in the Insurance sector where web aggregators are tightly controlled.
But that doesnt fall under @CimGOI or @DIPPGOI nor is the scope limited to FDI.
The government is not interested in going to the direction.

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu @linamkhan @PiyushGoyal @realDonaldTrump 78. We have been kept out of policy discussions, blocked on twitter, declared persona non grata. But still we fight to get towards the right direction.
Anyway, we would like to end by wishing @rabhishek1982 a happy upcoming retirement and thank you for unblocking us. THE END

@adamscrabble @lilchiva @rravi @MaxiOesing @CimGOI @DIPPGOI @MamataOfficial @ashwani_mahajan @swadeshimanch @TEAMCAIT @rai_india @IAMAIForum @amitabhk87 @NITIAayog @rabhishek1982 @nsitharaman @RBI @dir_ed @pranavsachdeva_ @CCI_India @sureshpprabhu @linamkhan @PiyushGoyal @realDonaldTrump @threader_app compile