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MUMBAI: India’s antitrust body launched raids on Thursday against two top domestic sellers of online retail giant Amazon.com Inc., over accusations of having violated competition laws, two sources with direct knowledge of the matter told Reuters.
Indian retailers have long contended that Amazon’s platform largely benefits a few big sellers, with the firm engaging in predatory pricing that harms their businesses.
The exact nature of the purported violations prompting Thursday’s raids was not immediately clear. The two sellers were Cloudtail and Appario, the sources said on condition of anonymity, as the details were not public.
Amazon, which has an indirect equity stake in both, did not immediately respond to a request for comment. Cloudtail, Appario and the regulator, the Competition Commission of India, also did not immediately respond to emailed queries.
One source said the raids, carried out in the capital, New Delhi and the southern tech hub of Bengaluru, related to CCI’s investigation ordered in January 2020.
In that case, Amazon and rival Walmart’s Flipkart face accusations of anti-competitive practices, such as promoting preferred sellers on websites and giving priority to listings by some sellers.
The companies deny the accusations, and the antitrust investigation continues.
Amazon has previously said it “does not give preferential treatment to any seller on its marketplace,” and “treats all sellers in a fair, transparent, and non-discriminatory manner.”
Heatwave disrupts industrial activity
The desert state of Rajasthan also imposed four-hour power cuts for rural regions. (AFP/File)
India’s northwestern Rajasthan state scheduled four hours of power cuts for factories, making it at least the third state to disrupt industrial activity to manage surging power demand amid an intense heatwave.
Extreme heat continued to scorch large swathes of south Asia this week, offering no reprieve after the hottest March on record in India, and triggering comments from Prime Minister Narendra Modi on India getting too hot too early.
India’s western Gujarat state and Andhra Pradesh restricted industrial activity this month, as air conditioning demand peaked, and economic activity picked up, following an end to coronavirus-related restrictions.
The desert state of Rajasthan also imposed four-hour power cuts for rural regions, exposing thousands of families in the desert state to extreme temperatures, with peak summer heat still to come before cooling monsoon rains arrive in June.
Maximum power demand in India surged to a record high on Tuesday, and is seen rising by as much as a tenth next month. India’s meteorological department has warned of worse heatwave conditions in the coming days.
The unprecedented heat puts millions of blue-collar workers, including construction and farm laborers and those working on factory shop floors, at great risk. Sunstrokes have claimed thousands of Indian lives in the past.
Industrial disruption and widespread power cuts are also bad news for corporate India, as economic activity has just started to pick up after months of stagnation amid coronavirus lockdowns.
Reliance, Apollo Global plan joint bid for pharmacy chain Boots
Boots would expand its presence into India, Southeast Asia and the Middle East if the joint bid is successful. (AFP)
Indian conglomerate Reliance Industries Ltd. and US buyout firm Apollo Global Management are planning a joint bid for UK high street pharmacy chain Boots, the Financial Times reported, citing people familiar with the matter.
The joint bid for Walgreens Boots Alliance’s UK-based business, if successful, would see Boots expand its presence into India, Southeast Asia and the Middle East, the report said.
(With inputs from Reuters)