Connect with us

News

Ecommerce Giants Flipkart And Amazon Violating FDI Rules – Indian Cellular Association

Published

on

Indian and international ecommerce giants like Flipkart and Amazon have been allegedly violating Foreign Direct Investment (FDI) rules according to handset maker’s lobby group Indian Cellular Association (ICA.)

According to reports, the lobby group representatives have also met with Commerce Minister Suresh Prabhu to take action against Flipkart and Amazon. ICA alleges the ecommerce platforms offer direct and indirect discounts on mobile phones and other products circumventing rules under Press Note 3 on FDI. Representatives who met with Suresh Prabhu recently explained the ecommerce companies were holding inventory and influencing the prices of electronic goods, thereby, eroding offline retailers’ revenue and putting at risk the jobs of nearly 60 million people.

In a letter addressed to Mr. Prabhu, ICA added, “In the view of the alarming situation that the industry and India are facing, we request urgent and severe action against Amazon India and Flipkart for rampant violations of the conditions of Press Note 3 by both, directly and indirectly, influencing the sale price of mobile phones and other goods.

The lobby group, according to a report by ET Now, is seeking necessary amendments in Press Note 3 and other linked laws to ensure strict action against the violators under the Prevention of Money Laundering Act. At present, the ICA represents several mobile makers in India, including Micromax, Apple, Nokia, Vivo, Lava, Lenovo and Motorola. ICA further added the ecommerce platforms involve various intermediaries and support entities in the chain to camouflage both discounts and losses. “With these intermediaries, both Amazon India and Flipkart are able to pass discounts, without booking the same in their own books. The breakdown of expenditure in various deals keeps changing to make detection difficult,” ICA added.

Under Press Note 3, 100% FI in India is only allowed when companies are engaged in business to business sales and not in business to consumer transactions. Therefore, ecommerce firms like Amazon and Flipkart can only function as a marketplace to connect buyers and sellers, and not influence prices.

This is not the first time ecommerce platforms have been blamed for offering heavy discounts. However, Amazon denied all allegations and a spokesperson said, “Amazon remains committed to comply and is in compliance with all applicable Indian laws and regulations. The prices for products on the Amazon.in marketplace are completely determined by the sellers.” Flipkart is yet to respond to these allegations.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Amazon India Launches At-Home Diagnostic Service, Expands Healthcare Ecosystem

Published

on

Amazon-Health

Amazon India has expanded its healthcare portfolio with the launch of Amazon Diagnostics, an at-home diagnostic testing service developed in partnership with Orange Health Labs. Now available in six major cities—Bengaluru, Delhi, Gurgaon, Noida, Mumbai, and Hyderabad—the service covers over 450 PIN codes and offers access to more than 800 diagnostic tests. Customers can book tests via the Amazon app, schedule home sample collection within 60 minutes, and receive digital reports for routine tests in as little as six hours, making healthcare more accessible and convenient than ever before.

This launch completes Amazon’s integrated healthcare suite in India, which already includes Amazon Pharmacy for medicines and Amazon Clinic for virtual doctor consultations. By bringing these services together under the Amazon Medical umbrella, the company enables a seamless outpatient journey—from doctor consultation to lab testing and medicine delivery—all managed through a single digital platform. The partnership with Orange Health Labs ensures high-quality, reliable diagnostics, supported by Amazon’s operational expertise and focus on customer trust.

Amazon’s entry into the $15 billion Indian diagnostics market signals a major shift in the country’s health-tech landscape, introducing new competition for established diagnostic players. Rather than competing solely on price, Amazon is prioritizing a seamless, trustworthy experience, aiming to address the growing demand for digital healthcare solutions and simplify access for millions of users across India.

Continue Reading

News

Bhavish Aggarwal’s Krutrim Unveils ‘Kruti’ — An Agentic AI Built for Bharat

Published

on

Kruti

Bengaluru, June 2025 – Krutrim, the AI startup founded by Ola’s Bhavish Aggarwal, has launched its new agentic AI assistant, Kruti. Unlike traditional virtual assistants, Kruti is designed with an Indian-first approach — combining cultural context, multilingual capabilities, and generative AI to offer a more intuitive, task-oriented experience for users.

Kruti is built to do more than just respond to queries — it can independently perform tasks, make decisions, and integrate across platforms for productivity and communication. Powered by Krutrim’s proprietary Indian-trained language model, it brings a deep understanding of local languages and digital behaviors, catering to both personal and business needs in the Indian ecosystem.

Aggarwal described Kruti as “India’s digital brain,” highlighting its role in redefining AI for Bharat. The assistant will be rolled out in phases, starting with enterprise partners and expanding through apps and APIs. As Kruti integrates into various platforms — including Ola’s services — it marks a significant stride in India’s ambition to lead the global AI race.

Continue Reading

News

Bankruptcy Forces BYJU’S to Offload Epic and Tynker for a Fraction of Acquisition Cost

Published

on

BYJU’S StartupStories

BYJU’S, once India’s most celebrated edtech startup, has sold its major US-based subsidiaries Epic and Tynker for a fraction of their original purchase prices, marking a dramatic reversal in its global expansion strategy. The distressed sales, approved by a US bankruptcy court on May 20, 2025, come amid the company’s ongoing financial and legal turmoil. Tynker, a coding education platform acquired by BYJU’S in 2021 for $200 million, was sold to CodeHS for just $2.2 million in cash, while Epic, a digital reading platform bought for $500 million in 2022, was acquired by China’s TAL Education Group for $95 million.

These fire-sale transactions were part of a broader restructuring effort to address disputes with lenders after BYJU’S defaulted on a $1.2 billion loan, which triggered bankruptcy proceedings for its US entities. The company’s US unit, Byju’s Alpha, became the focal point of legal battles, including allegations of mismanagement and the misappropriation of funds by top executives. Court rulings in the US have highlighted instances of fraudulent transfers and breaches of fiduciary duty by suspended directors, further compounding BYJU’S woes.

As BYJU’S scrambles to stabilize its core operations, several of its other high-profile acquisitions, such as Great Learning and Aakash Institute, have started operating independently and distancing themselves from the parent company. The massive losses from the sales of Epic and Tynker underscore the risks of BYJU’S aggressive acquisition spree and the severe impact of its financial mismanagement, leaving the future of the once high-flying edtech giant in question.

Continue Reading
Advertisement

Recent Posts

Advertisement