Wednesday, July 8, 2020
Home Business CAIT to Demand Independent Audit of Business Models of both Amazon and...

CAIT to Demand Independent Audit of Business Models of both Amazon and Flipkart

We placed various evidences of predatory pricing, deep discounting, controlling inventory by portals, exclusivity and total violation of FDI policy

The Confederation of All India Traders (CAIT) will seek an independent audit of the business models of both Amazon and Flipkart on the charges of predatory pricing and deep discounting, amongst others.

The development came on Friday, after a meeting was called by Commerce Ministry over the issue with Amazon, Flipkart and CAIT.

The DPIIT (Department for Promotion of Industry and Internal Trade) held a “face to face” meeting between representatives of CAIT, Flipkart and Amazon here.

“We placed various evidences of predatory pricing, deep discounting, controlling inventory by portals, exclusivity and total violation of FDI policy of the Government by both Amazon and Flipkart,” CAIT Secretary General Praveen Khandelwal was quoted as saying in a statement.

CAIT, Independent, Audit
The development came on Friday, after a meeting was called by Commerce Ministry over the issue with Amazon, Flipkart and CAIT. Pixabay

He said that both portals denied all charges and said that they comply FDI policy in its “letter & spirit”.

According to Khandelwal, on the charges of “deep discounting”, both portals said that “they are not offering discounts and it is the brands which offer discounts”.

“CAIT will place the entire matter once again to (Commerce Minister) Piyush Goyal and ask for independent audit of both Amazon and Flipkart business models,” Khandelwal said.

Besides, CAIT will ask major “brands” to clarify “their position on the claims of Amazon and Flipkart”.

Also Read- Air Quality in Delhi to Stay Poor due to Stubble Burning in Punjab and Haryana

“If need be, CAIT will not hesitate to approach Competition Commission of India or route of court to make brands clarify their position. Whoever is giving deep discount must be flouting one or the other law or policy and CAIT will seek action against them,” Khandelwal said.

CAIT has blamed predatory pricing by these portals for the closure of more than 30,000 mobile shops in the country and to cause a loss of about 30 per cent business of offline market. (IANS)

STAY CONNECTED

18,993FansLike
362FollowersFollow
1,781FollowersFollow

Most Popular

Here’s How you can Manage Flu at Home

The monsoon has begun, and while it brings relief from summer heat it also brings perils of humidity. With the rain showers comes the...

Top Selection Criteria for a Voltage Stabilizer

In our power grids, voltage fluctuation is a common phenomenon. But it also is a concerning one as it can harm sensitive electrical appliances...

Dalai Lama Turns 85, Tibetans Dedicate Year 2020 to him

In the wake of the coronavirus outbreak, the Central Tibetan Administration (CTA), also known as Tibetan government-in-exile, on Monday announced to dedicate this year...

Here’s What to Expect When You Catch a Flight from the Airport

Hustling sounds, frequent announcements, savvy travelers glued to their gadgets, emotional families waiting to receive or see-off their loved ones-- it's perhaps the opening...

A Must have Adventure Bucket List

The worldwide lockdown due to coronavirus has brought a screeching halt to every industry, including the travel and hospitality. With restrictions on international travel...

Picture Perfect Living Room Decor Ideas

A cosy and comfortable sofa set, a coffee table for tete-a-tete and a perfect TV unit to keep the entertainment mode on, all these...

‘Covid’ Now the most Searched Word of 2020

The term 'Covid' - the commonly used shorthand for Covid-19 or Coronavirus disease caused by the SARS CoV-2 virus - is the top word...

Beauty of Indian Culture: William Dalrymple on his Experience Living in India

India is one of the most religiously and ethnically diverse nations with the oldest culture in the World. The Indian culture varies like its...

Recent Comments