E-comm deep discounting creating grey mkt, leading to loss to national exchequer: CAIT, AIMRA
e-commerce companies Flipkart and Amazon as they are engaging in predatory pricing and are burning cash to offer heavy discounts on products, traders' body CAIT and mainline mobile retailers' association AIMRA said on Tuesday. These practices, in turn, are creating a grey market of mobile phones, causing losses to the exchequer «as players in the grey market evade taxes», they said.
Confederation of All India Traders (CAIT), in collaboration with the All India Mobile Retailers' Association (AIMRA), placed the demands in a white paper on the impact of e-commerce giants Amazon and Flipkart on India's retail ecosystem.
AIMRA demanded suspension of operations of Chinese mobile phone companies OnePlus, iQOO, and Poco for allegedly colluding with e-commerce players.
The white paper alleged violations of foreign direct investment (FDI) policy and other regulatory frameworks by Flipkart and Amazon.
«They (Flipkart and Amazon) deeply indulge in predatory pricing, deep discounting, loss funding, etc. Whatever investment they are bringing that is being used to burn cash, to fund losses they accrue during their operations in India,» BJP MP and CAIT Secretary General Praveen Khandelwal, said.
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