"Amazon will purchase Prime Business Services Pvt. Ltd, a joint venture between Catamaran and Amazon, subject to regulatory approvals" Under India's present standards, Cloudtail won't be able to continue selling on the marketplace after Amazon has complete ownership.
Prione Business Services is a joint venture between Amazon and Catamaran, which is directed by Narayan Murthy.
They claimed that the joint venture enabled merchants and small enterprises in India to reach millions of clients. In India, Cloudtail is one of the most popular Amazon merchants. Appario Retail, a joint venture between Amazon and Patni Group, is one of the e-commerce company's third-party vendors.
Cloudtail India, one of Amazon's major vendors in India, will close its doors in May. A foreign business running an online marketplace and its group firms are now prohibited from owning shares in any of the platform's sellers or having control over their inventory under Indian law.
Cloudtail presently has over 6,000 unique suppliers and products from over 11,500 different brands to provide its clients a wide range of options. Cloudtail's income has risen steadily over the last four years, from INR 1,145 crores in 2014-15 to INR 8900 crores in 2018-19.
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