DPIIT sends queries to Amazon, Flipkart on FDI norms adherence
Updated : October 21, 2019 07:08 AM IST
After repeated complaints by the Confederation of All India Traders (CAIT) over alleged violation of FDI norms by e-commerce majors, the Department for Promotion of Industry and Internal Trade (DPIIT) has sent a questionnaire to Amazon and Flipkart over their adherence to the norms for foreign direct investment (FDI).
The questions are concerned with their fund flow, business model and inventory management, people in the know of things said, adding that it also asks the names of their respective top five sellers and price list of vendors on these platforms.
Traders' body CAIT has time and again approached the government for its intervention regarding the deep discounts offered by these platforms during festival sales.
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