Reuters first to report Amazon says India revoking Future deal would boost Reliance, hurt competition

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.