Have you read these stories?

How India can fix its problem of tax revenue shortfall

So, how do we collect more taxes? Using the GST and following up on the audit trails it generates.

Competition Commision of India

Jan 22, 2020, 04.46 AM IST

SEARCHED FOR:

COMPETITION COMMISION OF INDIA

Budget 2020: Biocon boss wants a 'globally competitive' India; Uday Kotak, Harsh Mariwala remain optimistic

India Inc bosses want India to attract global investors.

CCI approves Reliance's divestment of Jio tower assets

The proposed transaction involves the acquisition of indirect control of RJIPL by Jarv...

Amazon promises 1 million new jobs in India amid tensions with government

Amazon.com Inc chief Jeff Bezos had on Wednesday announced USD 1 bi...

ET Prime Distribution
  • There will be no change in pricing and discount strategy of cos despite Goyal’s recent remarks. Discounts during the ongoing Republic Day and Great Indian sales on Flipkart and Amazon, respectively, will be similar to that last year

    Ahead of Bezos’ visit, the Competition Commission of India (CCI) had launched a investigation into Amazon and its competitor FlipKart to look at allegations of deep discounting and discrimination against small sellers.

    Amazon hopes to export goods worth $10 billion from India by 2025.

    "Why are companies like Amazon and Alibaba adding extra aircraft and flying everywhere, right? If there’s a decline in international trade, I think the traditional measurements such as those of GDP are not sufficient anymore," Ken Allen said.

    Amazon Pay India has received Rs 1,355 crore from Amazon Corporate Holdings and Amazon.com.incs.Limited, while Amazon Wholesale (India) allotted shares worth about Rs 360 crore to Amazon Corporate Holdings and Amazon.com.incs.Limited, regulatory documents filed with the corporate affairs ministry showed.

    Amazon CEO Jeff Bezos, who is on a visit to India, said on Wednesday that Amazon will invest another $1 billion in the country to help small and medium businesses sell their products, seen as an attempt to bridge differences with brick-and-mortar retailers. The amount adds to the $5 billion Amazon has pumped into India since 2013.

    India's competition watchdog has ordered its investigative wing to probe Amazon and Flipkart over their discounting practices, exclusive brand launches on the platforms and the preferential treatment they have allegedly offered to certain mobile phones sellers.

    The third edition of Pariksha Pe Charcha is being organised at Talkatora Indoor Stadium in Delhi. A total of 2,000 students and teachers will attend the event, of which 1,050 students have been selected through an essay competition. Officials said the event will start around 11.00 am and will also be broadcast on YouTube.

    It had been alleged that ecommerce firms Flipkart and Amazon have been giving preferential treatment to some mobile phone sellers and conducting deep discounting practices.

    "Many people are talking about jobs, including your paper, but I look at the jobs in the perspective of the jobs lost also. I cannot create 700,000 jobs by breaking the law, breaking every anti-competitive restriction, monopolising certain markets", said Commerce and industry minister Piyush Goyal.

    Unlike mature markets such as the US, where drug prices are market-controlled, here, the government and regulators play a pivotal role in the entire process. Regulators fix both the price companies pay for bulk drugs and the price at which they sell their products in the market, leaving little leeway to earn profit. For Indian pharma, this is a double-edged sword.

    "The Commission is of the view that evidence provided by JSW Paints is prima-facie sufficient to indicate that Asian Paints has denied access to the distribution channels in the relevant market to JSW Paints by threatening and coercing such dealers through various means," the fair trade regulator said.

Load More...
x

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service