FTA:

>The new rules could wipe out nearly half the products on Amazon.in, said Satish Meena, an analyst at Forrester Research Inc. “It’s likely to disrupt availability for customers,” he said.

>The biggest beneficiary from the tightened rules could be Reliance, which is India’s largest private company and owns the country’s biggest brick and mortar retail chain.

In theory India standing up to giant foreign corporations. In practice, a huge giveaway to another giant corporation at the expense of Indian consumers and a big warning to other companies hoping to expand to or invest in India.

Or it will allow small businesses space to compete in India instead of taking a shortcut of allowing unfettered access by large corps to increase commerce, but in a way that funnels profits away from India itself.

That portion of the article is basically the opinion part. I didn't find great coverage over the full details of the regulations themselves.