India: Traders' body accuses Amazon & Flipkart of violating foreign direct investment policies, through 'predatory pricing' and 'deep discounting'
Author: The Economic Times, Published on: 7 November 2019
"CAIT alleges violation of FDI policy by Flipkart, Amazon; companies reject", 11 October 2019
...CAIT on Friday alleged that...Amazon and Flipkart have violated foreign direct investment norms by indulging in predatory pricing, a charge which was rejected by the two companies. The Confederation of All India Traders (CAIT) flagged these allegations in a meeting...attended by...Flipkart and Amazon.
..."We are not satisfied...We placed various evidences of predatory pricing, deep discounting, controlling inventory by portals, exclusivity and total violation of FDI policy by both Amazon and Flipkart," CAIT Secretary General Praveen Khandelwal told reporters...He said both the portals denied all charges...
...Flipkart...highlighted how...the company is enabling lakhs of sellers and artisans to connect with customers across India. "We are deeply committed to doing business the right way...We continue to be willing to work with the government and all stakeholders to promote a regulatory environment that creates balanced growth..." he said in a statement.
An Amazon spokesperson said, "...We offered our commitment to help onboard CAIT traders to be part of the digital economy and reach customers across india and worldwide."...