CAIT seeks action against Flipkart, Amazon for violation of FDI rules, calls them economic terrorists

New Delhi, December 1 () The CAIT merchants body attacked the large e-commerce companies Amazon and Flipkart on Sunday, calling them economic terrorists, and demanded that the government take action against them for alleged violation of FDI policy rules .

However, a Flipkart spokesman vehemently denied the accusations and said the company operates through a market model in India and fully complies with all the laws of the country, including all FDI regulations.

It is unfortunate that some marginal organizations with vested interests continue to sell their agenda, the Flipkart spokesman said, adding that the vested interests are against the entrepreneurial spirit that the government wants to ignite in the country to create jobs and support wealth creators. and economic growth. .

Could not get an answer from Amazon India.

The Confederation of All Merchants of India (CAIT) said that small retailers have suffered at the hands of Amazon, Flipkart and other e-commerce portals over the past year, which has led to the decline of their businesses.

These companies can easily qualify as economic terrorists and a major obstacle to making India a 5 billion dollar economic vision of Prime Minister Narendra Modi, said the merchants' agency.

We hope the government will take immediate action against Amazon and Flipkart and that they must follow the policy or end their business activities from India, he added.

Flipkart, on the other hand, said that innovation and technology-driven digital commerce are fundamental to India's dream of a 5 billion dollar economy.

He said that e-commerce was allowing the success of MSMEs, kiranas, farmers and also creating new livelihood opportunities while supporting the formalization of the economy and contributing more tax revenue to the treasury.

Over the past five years, we have created thousands of new jobs through our deep investments in infrastructure and the vendor's ecosystem and we have built hundreds of innovative innovations through our technology and engineering team, said the Flipkart spokesman.

CAIT claimed that an impious cartel of e-commerce companies, brand-owned companies and banks was involved in guaranteeing predatory prices and deep discounts on Amazon and Flipkart e-commerce portals, and demanded a thorough investigation against this link. It also demanded severe measures against e-commerce players, as well as against brands and banks. RSN SR RVK