Blinkit, Zepto, other quick commerce firms broke FDI rules: CAIT

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.