Amazon, Flipkart, Snapdeal Under Fire For Flouting FDI Norms

India’s three best known brands in e-commerce have come under fire from CAIT (Confederation of All India Traders) for violating the forms prescribed for FDI related entities in the company. According to the CAIT, Flipkart, Amazon, and Snapdeal have contravened the government’s FDI policy, which prevents securing investments from abroad in entities working on an inventory based model in the area, and a complaint has been made with the DIPP. One may even recall that in March this year, the government had allowed e-commerce entities to avail 100 per cent...