Key Points
Indias financial crime agency, the Enforcement Directorate (ED), has conducted raids on sellers associated with Amazon and Walmart-owned Flipkart, targeting alleged violations of the country's foreign investment rules..
Reportedly, the pan-India operation included searches at seller locations and Amazon and Flipkart subsidiaries across major cities like Delhi, Mumbai, Hyderabad, and Bengaluru..
The raids on sellers of Amazon and Flipkart is a part of EDs probe ... for alleged violations of foreign exchange laws," Reuters has quoted a source in the government saying...
This latest probe follows findings from Indias antitrust body, which concluded that both Amazon and Flipkart, along with some of their sellers, violated competition laws by favouring specific sellers..
Adding fuel to the fire, Indias commerce minister recently criticised Amazon, suggesting that the companys substantial investments in India often serve to offset business losses, indicating possible predatory pricing tactics. This statement underscores the growing regulatory scrutiny on foreign e-commerce platforms as they navigate Indias competitive retail landscape...
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