Skip to content
Search

Latest Stories

Bezos flies into internet trading storm in India

ANGRY Indian street traders vowed Wednesday (15) to stage protests against the world's richest man Jeff Bezos as the Amazon tycoon started a visit just as authorities launched an anti-trust investigation into e-commerce giants.

Bezos, whose worth has been estimated at more than $110 billion, is officially in India for a meeting of business leaders in New Delhi.


But the Competition Commission of India (CCI) announced Monday that it was investigating Amazon and its main rival in the domestic market, the Walmart-owned Flipkart, over accusations they had killed off small businesses by favouring "preferred sellers" on their platforms.

Media reports said Bezos has sought a meeting with India's prime minister Narendra Modi, but neither the government nor Amazon would confirm if talks would be held.

Amazon has said it will cooperate with the investigation and was "confident" it was operating legally.

But traders across India said they would stage protests during the visit to demand the government takes action against Amazon.

The merchants accuse Amazon and Flipkart of flouting foreign investment rules and pouring billions of dollars into discounts that force traditional traders out of business.

Flipkart was Indian owned until bought by Walmart for $16bn in 2018 following a bidding war with Amazon.

The Confederation of All India Traders, which says it represents 70 million small businesses, vowed "strong protests" in 300 cities including New Delhi, where Bezos was to speak on Wednesday at the Amazon business summit.

The competition commission said it will report in 60 days, but its inquiries normally take a lot longer.

Last year it fined Google $21 million for "search bias" and abusing its dominant position.

After arriving Tuesday (14), Bezos paid tribute to India's independence leader Mahatma Gandhi, dressing in an Indian kurta to lay flowers at a memorial in Delhi.

He described Gandhi in a Twitter message as someone who "truly changed the world".

Bezos will also visit India’s financial capital Mumbai, where he will reportedly attend a party with Bollywood celebrities on Thursday evening.

Since its launch in India in 2016, the company’s streaming platform Amazon Prime has partnered with the who’s who of Bollywood to produce entertainment content in several Indian languages.

(AFP)

More For You

marks & spencer

M&S has confirmed that its physical stores remain open and operational

Getty

Marks & Spencer suspends online shopping after cyber attack hits systems

Marks & Spencer (M&S) has paused all online orders following a significant cyber attack that has left the company working to restore its systems. The retailer confirmed the cyber incident earlier this week, after customers began experiencing issues with online services last weekend.

While some systems have been brought back online, others remain offline, forcing M&S to stop taking orders through its website and apps. This includes both food deliveries and clothing purchases. The company issued an apology for the inconvenience, acknowledging the disruption and stating that its team, supported by cyber experts, is working tirelessly to resolve the situation.

Keep ReadingShow less
Pakistan airspace curbs push up costs for Indian airlines

FILE PHOTO: Passengers stand in a queue before entering the Chhatrapati Shivaji Maharaj International Airport in Mumbai. (Photo by SUJIT JAISWAL/AFP via Getty Images)

Pakistan airspace curbs push up costs for Indian airlines

TOP Indian airlines Air India and IndiGo are bracing for higher fuel costs and longer journey times as they reroute international flights after Pakistan shut its airspace to them amid escalating tensions over a deadly militant attack in Kashmir.

India has said there were Pakistani elements in Tuesday's (22) attack in which gunmen shot and killed 26 men in a meadow in the Pahalgam area of Indian Kashmir. Pakistan has denied any involvement.

Keep ReadingShow less
Campbell Wilson

Air India CEO Campbell Wilson steps down as Air India Express chair

Air India CEO Campbell Wilson steps down as Air India Express chair

AIR INDIA CEO Campbell Wilson is stepping down as chair of Air India Express, the airline’s low-cost subsidiary. He will be replaced by Nipun Aggarwal, Air India’s chief commercial officer, according to an internal memo sent on Tuesday.

Wilson will also step down from the board of Air India Express. Basil Kwauk, Air India’s chief operating officer, will take his place.

Keep ReadingShow less
Air India eyes Boeing jets rejected by Chinese airlines: report

Tata-owned Air India is interested in purchasing jets that Chinese carriers can no longer accept (Photo credit: Air India)

Air India eyes Boeing jets rejected by Chinese airlines: report

AIR INDIA is seeking to acquire Boeing aircrafts originally destined for Chinese airlines, as escalating tariffs between Washington and Beijing disrupt planned deliveries, reported The Times.

The Tata-owned airline, currently working on its revival strategy, is interested in purchasing jets that Chinese carriers can no longer accept due to the recent trade dispute. According to reports, Tata is also keen to secure future delivery slots should they become available.

Keep ReadingShow less
Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

The IT service firm said its revenue would either stay flat or grow by up to three per cent

Getty Images

Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

INDIAN tech giant Infosys forecast muted annual revenue growth last Thursday (17) in an outlook that suggests clients might curtail tech spending because of growing global uncertainty.

The IT service firm said its revenue would either stay flat or grow by up to three per cent in the fiscal year through March 2026 on a constant currency basis. The sales forecast was lower than the 4.2 per cent constantcurrency revenue growth Infosys recorded in the previous financial year.

Keep ReadingShow less