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Indian commerce minister: ‘Arrogant’ U.S. ecommerce giants flout our lawsInternational 2021-06-28, by Editor Comments Off 0
NEW DELHI, June – Indian Commerce Minister Piyush Goyal has ratcheted up the heat on U.S. ecommerce giants like Amazon and Walmart, accusing them of arrogance and of flouting local laws by indulging in predatory pricing practices.
Goyal said companies were using their scale and access to large pools of low-cost capital to indulge in predatory pricing practices “to the detriment of mom-and-pop stores.”
“A number of these large ecommerce companies have come into India and very blatantly flouted the laws of the land in more ways than one,” he told a virtual event late on Saturday.
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NEW DELHI (Reuters) - Indian Commerce Minister Piyush Goyal has ratcheted up the heat on U.S. ecommerce giants like Amazon and Walmart, accusing them of arrogance and of flouting local laws by indulging in predatory pricing practices.
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Goyal said companies were using their scale and access to large pools of low-cost capital to indulge in predatory pricing practices “to the detriment of mom-and-pop stores.”
“A number of these large ecommerce companies have come into India and very blatantly flouted the laws of the land in more ways than one,” he told a virtual event late on Saturday.
Arrogant US e-commerce giants flout Indian laws, says Piyush Goyal Arrogant US e-commerce giants flout Indian laws, says Piyush Goyal
Indian Commerce Minister Piyush Goyal indirectly accused US e-commerce giants like Amazon and Walmart of arrogance and of flouting local laws by indulging in predatory pricing practices.
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UPDATED: June 28, 2021 07:44 IST
Piyush Goyal said companies were using their scale and access to large pools of low-cost capital to indulge in predatory pricing practices. (Photo: PTI)
Indian Commerce Minister Piyush Goyal has ratcheted up the heat on US e-commerce giants like Amazon and Walmart, accusing them of arrogance and of flouting local laws by indulging in predatory pricing practices.
US E-Commerce Giants Are ‘Arrogant’, Flouting Our Laws: Piyush Goyal
Goyal did not directly name Amazon or Walmart s Flipkart or specify which laws had been flouted. By Reuters | Updated: 28 June 2021 09:57 IST
Photo Credit: Twitter/ @PiyushGoyal
Highlights
Goyal also criticised companies for indulging in forum shopping
Flipkart and Amazon have appealed against the CCI s bid
Indian Commerce Minister Piyush Goyal has ratcheted up the heat on US ecommerce giants like Amazon and Walmart, accusing them of arrogance and of flouting local laws by indulging in predatory pricing practices.
Goyal said companies were using their scale and access to large pools of low-cost capital to indulge in predatory pricing practices to the detriment of mom-and-pop stores.