How Flipkart violated India's FDI norms?01:20:00 AM, Friday 8th of November 2019 | in business
There is a long ongoing battle between the e-commerce companies and the sellers regarding the violation of foreign direct investment (FDI). According to a report in FY19, Flipkart Private Limited has bought goods worth Rs 39,514 cr, 44.34% more than FY18. The report reveals Flipkart acts like a retailer by buying and then selling goods on its platform. Flipkart, however, said it follows FDI norms and is ready for any kind of audit.