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Shopee's e-commerce platform to end operations in India

 Shopee 's e-commerce and gaming company Sea said on Monday it was withdrawing from India 's retail market months after starting operations in the country, in the second setback this month in an expansion campaign abroad, as that the company faces poor growth prospects.


The withdrawal, effective March 29, comes weeks after Shopee announced its departure from France and after India banned Sea's popular "Free Fire" gaming app.

Shopee said in a statement that its withdrawal came "in light of global market uncertainties" and that the company would make "the process as smooth as possible".

Earlier this month, Sea said revenue growth from its e-commerce business is expected to halve to about 76% this year from 157% in 2021 as more countries emerge from the pandemic.

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