Furthermore, they must disclose discounting policies and ensure they do not drive brick-and-mortar rivals out of business. The remarks come ahead of a visit by Amazon’s CEO Jeff Bezos to India - one likely to be marked by tension with the country’s small business owners planning protests in 300 cities as they step up their campaign against what they see as unfair business practices, according to Reuters.
On one side, Amazon has committed USD 5.5 billion in India investments, while Walmart in 2018 pumped in USD 16 billion to buy a majority stake in Flipkart, its biggest deal. On the other, groups representing more than 70 million brick-and-mortar retailers say both companies violate India’s foreign investment rules which were aimed at preventing sharp online discounts.
The companies deny the allegations. The CCI has asked its investigations arm to complete the probe within 60 days but typically such probes take much longer.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright