The Competition Commission of India (CCI) initiated a formal search just hours before Mr Bezos’ arrival and trader bodies including millions of angry small store owners announced demonstrations.
Jeff Bezos’ India visit, still, is likely to be damaged by sit-ins across the nation from small business purchasers who allege Amazon is making them out of marketing by offering cut stocks and supporting select big retailers on its platform.
On the additional side…
Amazon CEO Jeff Bezos who is on a three-day visit to India asked the Amazon Smbhav event for small and average companies in Delhi on Wednesday. The CEO stated that the company will spend $1 billion in digitising small and medium enterprises. “We will lend $1 billion in digitising small and medium businesses and export $10 billion worth of ‘Make In India’ goods by 2025,” he stated.
Mr Bezos’ India visit comes amid intense opponent in the country’s retail business, where strong regulations are directed at protecting local businesses from foreign hams.
The Amazon CEO remarked that the India-US alliance will be most relevant in the 21st century, which he feels is “going to be the Indian centenary”.
“The dynamism, the energy… the growth. This country has something special and it’s a democracy,” said billionaire Jeff Bezos.
The fair trade regulator said it would investigate the deep discounts, preferential listings and exclusionary tactics that Amazon and Flipkart are claimed to have used as anti-competitive tools.
US-based e-commerce giant Amazon has committed $5.5 billion in India investments and sees the country as a key growth market.