December 27, 2018 / 12:05 PM / a year ago

India to issue draft e-commerce policy in few weeks: government source

The logo of Flipkart is seen on the company's office in Bengaluru, May 9, 2018. REUTERS/Abhishek N. Chinnappa

NEW DELHI (Reuters) - India will announce a new draft policy for e-commerce in a few weeks, a source in the government said on Thursday, a day after the country tweaked foreign investment rules for the burgeoning sector.

The new e-commerce policy could entail provisions for a regulator in the sector dominated by U.S. tech giant and homegrown Flipkart, which was bought over by retail giant Walmart for $16 billion earlier this year.

India on Wednesday introduced changes to foreign direct investment rules, banning e-commerce players from selling products from entities in which they have an equity interest, a move the source said was aimed at preventing anti-competitive practices. The source declined to be named as the matter was not public.

Reporting by Aftab Ahmed; Writing by Sankalp Phartiyal; Editing by Subhranshu Sahu

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