Gadgets

Flipkart says it's fully compliant with FDI laws, contributing to inclusive growth

ANI | October 03, 2019 12:31 PM
The e-commerce marketplace is scaling up its reach in tier 2 and tier 3 cities

Bengaluru (Karnataka) [India], Oct 3 (ANI): Leading e-commerce marketplace Flipkart said on Thursday it is fully compliant with foreign direct investment (FDI) laws and works closely with lakhs of small businesses across the country to bring prosperity at the grassroots level.

"We are fully compliant with FDI laws of the country," it said in a statement.

"We are a marketplace player and work closely with lakhs of our sellers, artisans, and small and medium enterprises (SMEs) across the country. We help them connect with more than 16 crore customers. We are proud of our work to make these sellers and artisans successful and help in economic growth and job creation in India."

The statement came after the Jodhpur bench of Rajasthan High Court on Tuesday issued notices to Flipkart and Amazon on a petition filed by the Confederation of All India Traders (CAIT), alleging FDI policy violations.

The petition has sought the court's direction to the Centre to take immediate measures ensuring that e-commerce entities do not circumvent provisions of the FDI policy and both e-commerce marketplaces are stopped from offering deep discounts during the coming Diwali sale.

Last month, Flipkart has onboard nearly 27,000 kirana stores across 700 cities to its pan-India supply chain, helping it reach out to lakhs of new consumers during the upcoming festive season.

"Kiranas are the oldest and most widely spread retail format in India which exhibit the modernness of supply chain and deliver a successful customer experience management model," said CEO of Flipkart Group Kalyan Krishnamurthy.

"After digital payments, the next big revolution in kirana is going to be ushered in conjunction with e-commerce," he said.

The marketplace has a registered customer base of over 16 crore offering over 8 crore products across 80-plus categories. Recently, it announced the introduction of Hindi interface on its platform to make it more engaging for new internet users in the country are native language speakers. (ANI)

Have something to say? Post your comment
Must Read
Entire top brass of Jalandhar administration to be quarantined as secretary RTA detected Corona positive
Entire top brass of Jalandhar administration to be quarantined as secretary RTA detected Corona positive
COVID-19 biggest test of financial system's resilience: RBI Governor Das
COVID-19 biggest test of financial system's resilience: RBI Governor Das
Fine of Rs 73.45 lakh imposed on 15999 people for not wearing mask under 'Mission Fateh' by Commissionerate Police
Gurjot Kaur appointed as member of board of control of GNDU
Gurjot Kaur appointed as member of board of control of GNDU
Free online Urdu classes to start from July 20
Free online Urdu classes to start from July 20
Jalandhar will miss the man who changed the dynamics of PR in Jalandhar
Jalandhar will miss the man who changed the dynamics of PR in Jalandhar
DC orders stern action against  liquor smuggling  in district,
DC orders stern action against liquor smuggling in district,
Capt Amarinder to write to PM seeking cancellation of final term university/college exams
Capt Amarinder to write to PM seeking cancellation of final term university/college exams
Akalis in connivance with BJP want to save culprits of sacrilege through CBI-Sukhjinder Singh Randhawa
Akalis in connivance with BJP want to save culprits of sacrilege through CBI-Sukhjinder Singh Randhawa
Invest Punjab presented opportunities on Agro-Processing sector to Woo investments during WEBINAR with Japan
Invest Punjab presented opportunities on Agro-Processing sector to Woo investments during WEBINAR with Japan
Problems and complaints of Minorities should be resolved in a timely manner, says Dharmsot
Problems and complaints of Minorities should be resolved in a timely manner, says Dharmsot
This India is reforming, performing, transforming: PM Narendra Modi
This India is reforming, performing, transforming: PM Narendra Modi