Amazon India Chief Defends Company Amid Calls For Ban Over Alleged FDI Violations

Amazon India Chief Defends Company Amid Calls For Ban Over Alleged FDI Violations

SUMMARY

Amit Agarwal said that Amazon has alway been compliant with Indian laws and will continue to do so

Cloudtail and Appario in which Amazon had indirect stakes made up around 35% of the platform’s revenue through sales

Amazon and Flipkart are currently under the RBI and ED scanner for flouting India’s FEMA and FDI rules

Traders bodies have been accusing Amazon India of anti-competitive practices for years now, and a recent Reuters report appears to have substantiated many of these claims. The report notes that ecommerce giant twisted statements, gave preferential treatment to large sellers, and tried tricks to avoid scrutiny under India’s foreign direct investment (FDI) rules for ecommerce marketplaces that were set up in 2018.

Now as the Confederation of All-India Traders (CAIT) calls for a ban on the company following the Reuters story, Amazon India head Amit Agarwal has called the report “unsubstantiated, incomplete and factually incorrect”. He is reported to have emailed employees assuring them that Amazon has alway been compliant with Indian laws and will continue to do so. “We haven’t seen the documents referenced and Reuters hasn’t shared provenance to confirm veracity—the details are likely supplied with malicious intent to create sensation and discredit us,” he added in the email, as per an ET report.

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