Jeff Bezos heads to India as Amazon faces regulatory probes and waves of protests

  • 📰 CNBC
  • ⏱ Reading Time:
  • 71 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 72%

United States Headlines News

United States Latest News,United States Headlines

Bezos will face a wave of protesters when he appears at an Amazon event in India on Wednesday.

's Flipkart have violated competition laws by promoting "preferred sellers" on their platforms and offering deep discounts.

"Allegedly, there is an existence of various vertical arrangements between Flipkart with their preferred sellers on the platforms; and Amazon with their preferred sellers on the platforms, respectively which leads to a foreclosure of other nonpreferred sellers from the online marketplace," the order states. "These preferred sellers are also alleged to be affiliated with or controlled by Flipkart/Amazon either directly or indirectly.

Representatives from Amazon did not respond to a request for comment on India's probe. A Flipkart spokesperson said the company is reviewing the CCI notice, but that it's "fully compliant" with India's competition laws. "We take pride in democratizing e-commerce in India and giving market access to [hundreds of thousands] of [micro businesses], sellers, artisans and small businesses, making quality and affordable goods available to consumers through our transparent and efficient marketplace while creating lakhs of jobs," the spokesperson said.

Amazon and Flipkart were forced to alter their operations in the country after India enacted new e-commerce rules in December 2018. The rules prevent foreign-owned e-commerce companies like Amazon from selling products through affiliated companies they own a significant stake in, or from offering special discounts and exclusive deals in the country.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Modi ji ki Digital india fail mar gayee ki sir...

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Jeff Bezos: Amazon will donate to help Australia recover from fires - Business InsiderAmazon CEO Jeff Bezos announced that the tech company will donate $1 million Australian dollars to help Australia recover from the fires. How about $1 Billion, Jeff? ... pinching pennies 🤦🏻‍♂️ An absolute drop in the ocean. This is pathetic. $1 million to Amazon is a drop in the bucket.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Jeff Bezos says Amazon is donating $690,000 to Australian bush fire effortsPeople are criticizing Jeff Bezos for Amazon's $690,000 donation to Australian bushfire efforts, comparing his donation to those of other celebrities worth far less. Everyone in America is worth far less Jeff Bezos made all that money back in the time it took me to write this. His money bro
Source: CNBC - 🏆 12. / 72 Read more »

Twitter unimpressed with Jeff Bezos' $690K donation to Australian bushfire relief effortsJeff Bezos' donation of approximately $690,000 to assist with Australian bush fire relief efforts backfired as people online put it in perspective. Bezos doesn't care about anything, except his companies, IMO. For comparison, it's the equivalent of someone worth $100,000 giving about $0.59. That's 59 CENTS.
Source: ABC - 🏆 471. / 51 Read more »

Twitter unimpressed with Jeff Bezos' $690K donation to Australian bushfire relief effortsJeff Bezos' donation of approximately $690,000 from Amazon to assist with Australian bushfire relief efforts was lambasted by critics online who quickly put that figure into perspective. The Amazon CEO, who unseated Bill Gates as the top billionaire on Forbes' rankings, announced the donation Well it’s the equivalent of someone with an average income giving like 2 bucks, so... To put that in perspective, it would be like me donating 69 cents. BoycottAmazon until JeffBezos donates more money!!!!!!
Source: YahooNews - 🏆 380. / 59 Read more »

Ahead of Bezos visit, India antitrust chief says e-commerce firms shouldn't offer heavy discountsBig e-commerce firms should not offer steep discounts and must ensure they do not drive brick-and-mortar rivals out of business, India’s antitrust chief told Reuters ahead of a visit by Amazon CEO Jeff Bezos to India this week by AdityaKalra adityakalra How are you going to enforce that? adityakalra crazythinking adityakalra Why don't you offer tax incentives to brick and mortar companies that actually hire people in your country as an offset ahainst discounted ptices from internet companiesm Thereby giving citizens more money in their pockets and help sustain local businesses that employ citizens?
Source: Reuters - 🏆 2. / 97 Read more »

India orders antitrust probe of Amazon, Walmart's FlipkartIndia ordered an investigation of Amazon.com Inc and Walmart's Flipkart on ... ?
Source: Reuters - 🏆 2. / 97 Read more »