Indian e-commerce firms Snapdeal, ShopClues, UrbanClap, Fynd gang-up; keep Flipkart, Amazon out of TECI

Newly formed association for India’s e-commerce marketplaces and digital-first companies — The E-commerce Council of India (TECI) — has kept the US-based Amazon’s India arm and Walmart-owned Flipkart out from becoming its first set of members. The 12-member e-commerce lobby includes Snapdeal, ShopClues, Fynd, UrbanClap, Bewakoof, Mamaearth, Shop101 etc.

“The reason why Flipkart and Amazon are not part of the council is because they are subsidiaries of other companies while they are free to join the council anytime. The reason why we reached to the companies among us is because there is a structural alignment,” Fynd’s Co-founder Harsh Shah and TECI’s member told Financial Express Online.

Shah also said that the council members are predominantly Indian companies which are not majority owned by any outside investors or are not arm of any global company.