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Predatory pricing

Jan 20, 2020, 04.30 AM IST

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PREDATORY PRICING

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  • Jeff Bezos has announced investments of USD 1 billion over the next few years in India. He could not reportedly get an audience with Indian PM Modi, while Commerce Minister Piyush Goyal stoked a controversy by stating that the e-commerce giant which is being investigated for predatory pricing is not doing India any favour by the investment.

    Handset retailers plans to meet the FM with the demand of a probe into GST and I-T return filing by etailers.

    "We need to bring equilibrium within the market. Can't say predatory pricing is the only reason of ill health of airlines, it is one of the reasons. After discussion with airlines, the trend of predatory pricing has reduced. Our advice to airlines is to charge realistic fares," Aviation Minister Hardeep Puri said.

    In a letter to Commerce Minister, Confederation of Indian Alcoholic Beverage Companies Director General Vinod Giri said in 2018-19, exports of alcoholic beverages stood at Rs 2,200 crore, while imports were Rs 5,400 crore. "The data clearly indicates how the trade is balanced against India," he said adding the ministry should not give major duty concessions to regions like the EU.

    Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra said that despite a slowdown in the global economy, inflows of foreign investment into the country have not been impacted. India received a USD 27.2-billion foreign investment in the first half of 2019 and the pace is said to have sustained thereafter.

    Handset-makers including Xiaomi, Oppo and Vivo in October had issued trade advisories to their retail partners to assure that they will bring price parity between their online and offline channels.

    Terming e-commerce firms "global economic terrorist" and "economic intruders, tax offenders and policy & law violators", the Confederation of All India Traders (CAIT) in a letter sent to Commerce Minister Piyush Goyal demanded early enforcement of e-commerce policy and national retail policy. It also called for constituting an e-commerce ombudsman.

    "I would like to highlight the adverse impact of predatory pricing indulged by some e-commerce players which adversely impact millions of small retailers. It is important for e-commerce to follow the letter and spirit of the law," Goyal said at the BRICS trade ministers meeting. He further added that the need of the hour is to develop digital infrastructure.

    "Against Sl. No. 15.2.3, for entry (p), the following entry shall be substituted, namely-(p) e-commerce marketplace entity with FDI shall have to obtain and maintain a report of statutory auditor by 30th of September every year for the preceding financial year confirming compliance of the e-commerce guidelines," the gazatte notification said

    It has found an innovative plan to deal with the scourge that all but wiped off India's mobile industry.

    Speaking at the 2019 ET Awards, Commerce Minister Piyush Goyal says foreign e-commerce companies cannot exercise predatory pricing just beca...

    "First, China becomes the sole global superpower -- economically, militarily and geopolitically -- by the middle of this century. Second, China's ascension will be disrupted and halted by internal turmoil," he said.

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