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Amazon removes products from India following regulation changes

Amazon has removed some of its products from the market in India amid new regulatory changes.

The web-based retail firm has been forced to take the decision after new rules were introduced that ban online firms from selling products through vendors in which they hold a stake.

Amazon is one of the companies that has lobbied against the change, which is expected to have a sizeable impact on the retail industry in India.

Despite this, Brian Olsavsky, Amazon's chief financial officer, has insisted that India - the world's second most populous country - remains a "good long-term opportunity" for the company.

Flipkart is another of the big-name firms that has opposed the move.

However, the company has insisted it will comply with the regulatory changes.

Rajneesh Kumar, the company's chief of corporate affairs, said in a statement: "We believe that policy should be created in a consultative, market-driven manner and we will continue to work with the government to promote fair, pro-growth policies."

Prior to the introduction of the new rules, Amazon had committed to spending as much as $5.5 billion on e-commerce in India.

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