CAIT accuses Amazon of violating FEMA norms

New Delhi: Traders’ body CAIT on Wednesday accused e-commerce major Amazon of indulging in serious contraventions of FDI policy and Foreign Exchange Management Act. The body also blamed the online firm for not seeking the government’s approval for conducting multi-brand retail activities in India.

“Documents available in the public domain show that Amazon has made an investment of about Rs 35,000 crore in Amazon India – a make-believe e-commerce marketplace platform, but in reality indirectly carrying multi-brand retail business,” CAIT Secretary General Praveen Khandelwal said in a press conference.