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Narayana Murthy to start e-commerce business (JV with Amazon)

Infosys Chairman NR Narayana Murthy is entering into e-commerce business i.e. The Infosys co-founders family company Catamaran starting a joint venture with Amazon Asia. So soon these companies will start online retailing throughout India. Indian online customers are rapidly increasing every year, so it is a good move by both the companies.

In recent days IT top guns are concentrating on Indian e-commerce business. Earlier Wipro chairman Azim Premji has invested in, a fashion retail company. Later Myntra has bought by Flipkart for $330 million.

Head of Catamaran ventures, Arjun Ramegowda Narayanswamy said " Catamaran is partnering with Amazon Asia to offer services that help offline sellers and SMBs in India to get online and to take advantage of the fast-growing online customer base in the country."

Since there are FDI (Foreign Direct Investment) restrictions on e-commerce companies to start a direct business in India, Amazon and Catamaran have consulted top legal firms to take necessary steps to avoid FDI restrictions. Narayana Murthy's Catamaran will hold 51% of the stake in their new venture and Amazon will be holding remaining 49%. As we already knew that Amazon has already entered in Indian market indirectly, which means Amazon is not selling the products directly in India, instead it is providing a platform to others to sell.
Narayana Murthy to start e-commerce business (JV with Amazon) Reviewed by Janardhan Raju on Saturday, June 28, 2014 Rating: 5

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