Big 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
NEW DELHI - Big e-commerce firms should not offer steep discounts, must disclose discounting policies and ensure they do not drive brick-and-mortar rivals out of business, India’s antitrust chief said as his commission launched a probe into Amazon.com and Walmart’s Flipkart.
In particular, the shopkeepers accuse the two U.S. giants of indulging in heavy discounts and giving preferential treatment to select sellers. “Otherwise there will be complaints, we will inquire - why do you want to subject yourself to this type of investigation if you are open about it.” Amazon has committed $5.5 billion in India investments, while Walmart in 2018 pumped in $16 billion to buy a majority stake in Flipkart, its biggest deal.
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