10th Indian Delegation to Dubai, Gitex & Expand North Star – World’s Largest Startup Investor Connect
Tech

CCI Finds Flipkart & Amazon India Guilty Of Flouting Antitrust Rules


SUMMARY

The competition watchdog found that both Amazon India and Flipkart flouted antitrust guidelines by giving preference to select sellers on their platforms

Both Amazon and Flipkart will now have time to review the report and file any objections before the CCI decides on the quantum of fines against them

In 2020, the CCI ordered a probe into Amazon India and Flipkart for allegedly prioritising certain listings and promoting certain sellers with which they had business arrangements

The Competition Commission of India (CCI) has reportedly found ecommerce giants Amazon and Walmart-backed Flipkart guilty of violating competition laws. 

As per two separate internal antitrust reports seen by Reuters, the competition watchdog found that both Amazon India and Flipkart flouted antitrust guidelines by giving preference to select sellers on their platforms. 

“Each of the anti-competitive practices alleged … were investigated and found to be true… Ordinary sellers remained as mere database entries,” read identical conclusions in both the reports.

While the two companies have previously denied any wrongdoings, both Amazon and Flipkart will now have time to review the report and file any objections before the CCI decides on the potential fines against them. 

The case pertains to 2020, when the CCI ordered a probe into Amazon and Flipkart for allegedly prioritising certain listings and promoting certain sellers with which the two companies had business arrangements. 

(The story will be updated soon.)





Source link

by Siliconluxembourg

Would-be entrepreneurs have an extra helping hand from Luxembourg’s Chamber of Commerce, which has published a new practical guide. ‘Developing your business: actions to take and mistakes to avoid’, was written to respond to  the needs and answer the common questions of entrepreneurs.  “Testimonials, practical tools, expert insights and presentations from key players in our ecosystem have been brought together to create a comprehensive toolkit that you can consult at any stage of your journey,” the introduction… Source link

by WIRED

B&H Photo is one of our favorite places to shop for camera gear. If you’re ever in New York, head to the store to check out the giant overhead conveyor belt system that brings your purchase from the upper floors to the registers downstairs (yes, seriously, here’s a video). Fortunately B&H Photo’s website is here for the rest of us with some good deals on photo gear we love. Save on the Latest Gear at B&H Photo B&H Photo has plenty of great deals, including Nikon’s brand-new Z6III full-frame… Source link

by Gizmodo

Long before Edgar Wright’s The Running Man hits theaters this week, the director of Shaun of the Dead and Hot Fuzz had been thinking about making it. He read the original 1982 novel by Stephen King (under his pseudonym Richard Bachman) as a boy and excitedly went to theaters in 1987 to see the film version, starring Arnold Schwarzenegger. Wright enjoyed the adaptation but was a little let down by just how different it was from the novel. Years later, after he’d become a successful… Source link