NEW DELHI, Aug 21 (Reuters): India's commerce minister accused Amazon and other e-commerce companies of predatory pricing practices and said the sector's rapid rise should not disrupt millions of brick-and-mortar stores operating in the country.
Amazon and Walmart's Flipkart have reshaped India's retail landscape in recent years, with both companies investing billions of dollars to expand and get consumers to their platforms which offer lucrative discounts.
Indian regulations prohibit Amazon and Flipkart from stocking goods and selling directly to consumers, and they can only operate a marketplace for other sellers to offer products. However, small retailers have often alleged that the regulations are bypassed using complicated business structures.
Commerce Minister Piyush Goyal on Wednesday signalled out Amazon's business practices and said the company's investments in India have often been used to cover its business losses.
India accuses Amazon of predatory pricing
FE Team | Published: August 21, 2024 22:59:16
India accuses Amazon of predatory pricing
Share if you like