CAIT seeks probe into business models of 16 online platforms, e-commerce firms, Technology News, ETtech

CAIT seeks probe into business models of 16 online platforms, e-commerce firms
A merchants’ affiliation has urged the federal government to probe the business models of 16 expertise startups and ecommerce corporations, together with Flipkart, Amazon, Zomato, Swiggy and Oyo, arguing that incurring big yearly losses and incomes income weren’t wholesome business practices.

The Confederation of All India Traders (CAIT) wrote to commerce minister Piyush Goyal on Thursday, appending the checklist of corporations – Paytm, Big Basket, Grofers, Ola, Delhivery, Lenskart, Pepperfry, Rivigo, MakeMyTrip, PhonePe and Medlife too – together with their annual income and loss figures.

“Not only their business models, but (also) their respective foreign investments and its disbursal, aspect of avoidance of GST and Income Tax revenue and probabilities of burning cash should also be investigated,” Praveen Khandelwal, nationwide secretary-general of CAIT, mentioned.

The corporations named within the checklist didn’t reply to emails in search of remark. They have beforehand denied any wrongdoing.

“If ecommerce is a loss business, then the government should seriously think about ending the ecommerce business in India or take such steps to remove the distortions of the ecommerce business,” Khandelwal added.

CAIT has been demanding a strong ecommerce coverage and a regulator or ombudsman.

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