CAIT accuses Amazon of violating FDI policy, company denies charges

NEW DELHI: Traders’ body CAIT on Wednesday accused e-commerce major Amazon of violating FDI policy and Foreign Exchange Management Act (FEMA) norms, a charge which the multinational company denied.

The traders’ body in a letter to Commerce Minister Piyush Goyal alleged that the online retailer has not sought the government’s approval for conducting multi-brand retail activities in India and demanded action and imposition of maximum penalty against the company.