Business

Traders’ body seeks to ban Amazon’s e-com biz in India

Responding to the allegations, each Amazon and Flipkart stated they continue to be compliant with Indian legal guidelines.

Traders’ body CAIT on Thursday urged the federal government to impose a ban on Amazon’s e-commerce portal and its operations in India, accusing the worldwide e-tailing large of indulging in predatory pricing, deep discounting and stock management.

Addressing a press convention, CAIT secretary-general Praveen Khandelwal demanded an “immediate ban on Amazon’s portal and its operations in India” and an investigation in opposition to the corporate in a time-bound method.

 

He additionally urged the federal government to probe the enterprise practices of Amazon and Flipkart.

However, responding to the allegations, each Amazon and Flipkart stated they continue to be compliant with Indian legal guidelines.

The merchants’ body additionally wrote to Commerce and Industry Minister Piyush Goyal in this regard on Thursday.

“Our association has been requesting your good office to take appropriate steps and investigate and penalise the multinational companies like Amazon and Flipkart (Walmart) for the blatant violation and/or exploitation of the loopholes of the FDI policy and the Foreign Exchange Management Act/Rules,” CAIT stated in the letter to Goyal.

The merchants’ body additional stated that in its nationwide conference held in Nagpur on February 8-10 in which greater than 150 commerce leaders have been current, “the inaction of government on this issue was viewed very seriously, and members resolved to go on a nationwide stir if urgent action is not taken by the government”.

An Amazon India spokesperson stated the corporate stays compliant with all Indian legal guidelines.

“In the last several years, there have been a number of changes in regulations governing the marketplaces and Amazon has on each occasion taken rapid action to ensure compliance,” the spokesperson stated.

Responding to an e-mail in search of response, a Flipkart spokesperson stated it’s absolutely compliant with the legal guidelines of the nation and dedicated to honest market practices.

“As a market, our endeavour has all the time been to facilitate the shopping for and promoting between lakhs of native sellers and a buyer base of over 300 million in a clear and environment friendly manner.

“We will continue to operate with the same transparency and within the bounds of rules and regulations while creating opportunities for both sellers as well as buyers,” the Flipkart spokesperson stated.

The Confederation of All India Traders (CAIT) additionally demanded the federal government to launch a recent Press Note in place of Press Note No.2 of FDI coverage.

It additionally urged the federal government to finalise a lot awaited e-commerce coverage.

“We hope that DPIIT (Department for Promotion of Industry and Internal Trade) will issue the amendments to Press Note 2 of 2018 and plug the loopholes being exploited by these MNCs (multinational corporations),” it stated in the letter to Goyal.

Photograph: Brendan McDermid/Reuters

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