CAIT accuses Amazon India of violating FDI policy, Ecommerce giant denies
Shortpedia
Content Team
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Traders’ body CAIT has accused ecommerce major Amazon of violating Foreign Direct Investment policy and Foreign Exchange Management Act norms, a charge which the multinational company denied. CAIT has alleged in its letter to Commerce Minister Piyush Goyal that Amazon India has not sought approval for conducting multi-brand retail activities in India. Amazon India says it has complied with FDI laws and had sought CCI nod.
