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Blinkit, Zepto, other quick commerce firms broke FDI rules: CAIT
short by Mansi Agarwal / on Wednesday, 13 November, 2024
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.
read more at NDTV Profit