Amazon puts on hold plans to buy stake in Kishore Biyani's Future Group

E-commerce FDI norms cast a doubt on company's offline retail plans, might affect More deal as well

Global online marketplace giant Amazon has indefinitely put on hold its plans to buy stake in Kishore Biyani’s Future Group, it is learnt.   

According to sources in the know, Amazon is also reassessing the More retail chain stake buy, as it is at the moment unsure of India’s retail climate. The investment arm of Amazon had set aside close to $2 billion to invest in various retail chains, to expand its offline footprint.

Still assessing the damage caused by sudden change in foreign direct investment (FDI) in e-commerce norms, which forced it to overnight change its business strategy to become compliant,