A leading Indian trader body asked the government on Friday to ban upcoming fest...
MUMBAI - A leading Indian trader body asked the government on Friday to ban upcoming festive sales on Amazon’s local unit and its rival Flipkart, saying their deep discounts violate the country’s foreign investment rules for online retail.
Walmart-owned Flipkart’s six-day sale begins Sept. 29, while Amazon is yet to announce dates. Both e-retailers promise big discounts on everything from fashion to smartphones to home appliances and have previously said discounts and deals are offered by sellers on their platforms. Its demand is unlikely to see government action before this year’s sales kick off but it could help frame government policy on deep discounts.India does not allow foreign direct investment in inventory-driven models of e-commerce, used by Walmart and Amazon in the United States, where goods and services are owned by an e-commerce firm that sells directly to retail customers.
Asked for comment, Flipkart said more than 100,000 sellers on its platform awaited its ‘Big Billion Days’ sale event.
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