CAIT Accuses Amazon India Of Violating FDI Policy, Ecommerce Giant Denies
Shoes and Accessories|November 2020
Traders’ body CAIT has accused ecommerce major Amazon of violating Foreign Direct Investment (FDI) policy and Foreign Exchange Management Act (FEMA) norms, a charge which the multinational company denied.

The traders’ body in a letter to Commerce Minister Piyush Goyal alleged that the online retailer has not sought government’s approval for conducting multi-brand retail activities in India and demanded action and imposition of a maximum penalty against the company.

“Documents available in the public domain show that Amazon has made an investment of about INR 35,000 Cr in Amazon India, a makebelieve ecommerce marketplace platform, but in reality (it is) indirectly carrying multi-brand retail business,” Confederation of All India Traders (CAIT) secretary-general Praveen Khandelwal said.

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