Indian Minister Piyush Goyal has threatened US e-commerce including Amazon. And market, with self-important and the violation of local laws through deception. Goyal said companies used their scale and access to large pools of cheap capital to the detriment of mommy and pop stores to practice pricing.
He said a virtual event late Saturday. A number of the largest e-commerce companies came to India and flouted the laws more than one way.
I have had many engagements with these large companies, especially those in the United States.
The two dominant e-commerce players in India, Goyal, did not directly call or define. what laws were flouted? Yet his comments come at a time when retailers are increasingly clamoring for US giants to circumvent Indian competition law.
Requests for feedback on Goyal’s harsh criticism were not immediately returned by Amazon or Flipkart.
A US lobbying group has called India’s new e-commerce rules cause for concern.
The traders have leveled accusations against the two corporations, which they have denied.
Goyal also chastised businesses for engaging in “forum shopping” in the courts and neglecting to cooperate with the Competition Commission.
After a judge dismissed the corporations’ original pleas earlier this month, the CCI has filed an appeal to reopen the inquiry into business practices.
Why don’t they answer to the CCI?
In my opinion, if they have nothing to hide and are following ethical business practices?” At a virtual event hosted by the Stanford India Policy and Economics Club, Goyal stated.
His remarks come just days after released a new set of eCommerce restrictions that might stymie Amazon and Flipkart’s plans in the country and push them to rethink their business models.
Separately, the Confederation of All Traders accused e-commerce corporations of treating India as a “banana republic” with lax laws in a letter to Prime Minister Narendra Modi.
Separately in a letter to Prime Minister Narendra Modi on Sunday, the Confederation of All India Traders accused eCommerce companies of treating India like a banana republic with weak laws.
The government to ensure that the proposed e-commerce rules were not diluted, despite the lobbying efforts of e-commerce giants.
The US-India Business Council, a top US lobby group, described India’s proposed new e-commerce rules