The Confederation of All India Traders (CAIT) has lashed out at e-commerce giants Amazon and Flipkart, calling them “economic terrorists” and demanded action against them for ‘violation of FDI policy norms’.
Flipkart has responded by denying the allegations and terming them as ‘unfortunate’ and added that ‘fringe organizations with vested interests continue peddling their agenda’.
The traders’ body CAIT claims that due to the ecommerce giants small retailers have suffered greatly over the past year through deep discounting and predatory pricing.
“These companies can easily be termed as economic terrorists and a major roadblock in making India a USD 5 trillion economy vision of Prime Minister Narendra Modi,” the traders’ body said.
Flipkart responded by saying that it has invested in enabling the success of MSMEs, kiranas, farmers and in formalizing the economy along with creating ‘lakhs of new jobs’ via the seller ecosystem.