E-commerce companies may adapt to new FDI Rules: Doug DeVos

“Ecommerce marketplaces are just going to have to find some new ways to operate and adjust their business models,” said Amway Corp. chairman Doug DeVos, referring to India’s revised guidelines on foreign direct investment (FDI) in the sector that took effect on February 1. “Ecommerce isn’t going to stop.”

Online sales for the maker of Nutrilite dietary supplements, Amway Queen cookware and Glister toothpaste currently contribute close to 35% of India revenue.

“We have had challenges too but we continue to believe in this market and work through it. I think the government is trying to get their arms around how the supply works for ecommerce companies,” said DeVos, who is visiting the country for the India-US CEO forum.