India expands its e-commerce crackdown with a new $200M case against Walmart’s fashion arm Myntra

India's financial crime watchdog, the Enforcement Directorate (ED), has filed a complaint against Walmart-backed Myntra, alleging the company violated foreign investment rules. The complaint claims that Myntra channeled over $191 million through a related-party scheme, which is a violation of the country's foreign direct investment (FDI) regulations. The case is the latest in a series of crackdowns on e-commerce companies in India, as the government aims to tighten control over the sector and protect domestic businesses. The move comes amid growing concerns over the dominance of foreign-owned platforms in the Indian e-commerce market. The complaint against Myntra is part of a broader effort by the Indian government to ensure compliance with FDI rules and prevent the misuse of these regulations. The outcome of the case could have significant implications for the e-commerce industry in India and the operations of multinational companies in the country.