E-commerce Firms For First Time Will Submit Company Details Report to Narendra Modi Government
The Indian government for the first time has asked for a clarification from e-commerce companies on how they function. This comes on the back of several complaints from seller bodies and also rival firms that they are not complying to the rules.
Bengaluru, July 12: For the first time, the Indian government has asked for clarification from the e-commerce companies on how they function. Giants in this space like Flipkart, Amazon and Snapdeal are in the process of submitting detailed reports to the ministry of commerce and industry, explaining their company structures and business operations in India, according to an Economic Times news report. Flipkart Opens Second Data Centre in Hyderabad For Strengthening Technology Infrastructure - Report.
This comes on the back of several complaints being made by sellers and other rival players about how the online commerce firms are allegedly violating laws that govern the sector.
Details which these firms have to provide are- how many warehouses they are running, the number of sellers they work with, and other investments in India. According to the report, Flipkart and Snapdeal have already made their submission and Amazon is in the process of doing so.
On June 24, Piyush Goyal met 25 internet and e-commerce firms and the Minister instructed all the parties present to submit a detailed report explaining how their companies operate.
(The above story first appeared on LatestLY on Jul 12, 2019 09:10 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).