This will bite them back in their arses lol. WTF were they thinking here?
the downside of it all is that now there is actually less competition in the e-commerce space now. we need to seriously get more e-tailers like newegg here.
Getting more e-tailers won't really change the scenario that much because these are just websites that enables various kinds of sellers in India to sell their stuff online. When talking specifically about electronics and gadgets, sites like Newegg can't make a serious dent until foreign direct investment is allowed and westerners can set up stores here and various kinds of custom duties\taxes etc are out of the equation or atleast not as high as they're now.
But something like this won't easily happen because Indian sellers will fight tooth and nail against FDI as they know they can't fend off serious competition offered from global competetion. BJP also has nationalistic BS elements within and moreover businessmen bribe them etc and aid them in political campaigns etc to serve their own ends, which is to not allow foreign competition set foot here.