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- Small enterprise house owners in India are protesting Amazon, saying they will not have the ability to compete with the steep reductions it gives different suppliers.
- An organizer of the protest stated Amazon will “destroy small retailers” and referred to as CEO Jeff Bezos an “financial terrorist.”
- The protests coincided with Bezos’ journey to India, the place he introduced on Wednesday that Amazon plans to take a position $1 billion within the nation, calling a US-India alliance the “most essential” of the twenty first century.
- In the meantime, India’s antitrust regulator simply opened an investigation into potential unfair enterprise practices by Amazon and Walmart-owned on-line retailer Flipkart.
Amazon’s deliberate $1 billion funding in India has not been met with open arms.
On Wednesday, CEO Jeff Bezos introduced that the e-commerce big needs to place cash into “digitizing small and medium companies” and stated that, within the twenty first century, “an important alliance goes to be the alliance between India and the USA.”
Nevertheless, small enterprise house owners in India do not appear to assume that alliance ought to contain Amazon, and hundreds took to the streets this week in protest. Sumit Agarwal of the Confederation of All India Merchants (CAIT) stated demonstrations have been deliberate in as many as 300 cities throughout the nation.
Agarwal stated in a tweet Amazon will “destroy small retailers” and referred to as Bezos an “financial terrorist.”
—SUMIT AGARWAL (@sumitagarwal_82) January 15, 2020
This is a take a look at a number of of the protests and why store house owners are so against Amazon’s presence in India.
Jeff Bezos is on a visit in India, and stated Wednesday that Amazon plans to take a position $1 billion in “digitizing small and medium companies” within the nation.
Bezos additionally stated that a US-India alliance might be an important alliance of the twenty first century.
However not everybody was excited by Amazon’s curiosity in India. Hundreds of native store house owners took to the streets to protest Bezos’ go to, holding indicators that stated: “JEFF BEZOS GO BACK.”
Protests have been held in as many as 300 cities throughout India, in response to the Confederation of All India Merchants (CAIT), one of many commerce associations that organized the demonstrations.
Sumit Agarwal of CAIT tweeted that Bezos and Amazon have been “overseas financial terrorists & invaders.” Protesters additionally in contrast Amazon to the East India Firm, a British firm that colonized India, elements of Southeast Asia, and Hong Kong.
—SUMIT AGARWAL (@sumitagarwal_82) January 12, 2020