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Blinkit, Zepto, other quick commerce firms broke FDI rules: CAIT
short by Mansi Agarwal / on 13 Nov 2024,Wednesday
Indian trade body CAIT has accused quick commerce players like Blinkit, Swiggy Instamart and Zepto of breaking India's FDI norms. It claimed that the top three players received over ₹54,000 crore in FDI, of which the majority was used to cover losses instead of asset creation. They also violated the Competition Act by engaging in predatory pricing, CAIT said.
short by Mansi Agarwal / 07:40 pm on 13 Nov
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