A leading Indian trader body asked the government on Friday to ban upcoming festive sales on Amazon’s local unit and its rival Flipkart, saying their deep discounts violate the country’s foreign investment rules for online retail. The two e-commerce firms typically hold annual festive season sales ahead of key Hindu festivals Dussehra and Diwali, which are due this year in October, when Indians make big ticket purchases such as cars and gold jewelry. Walmart-owned Flipkart’s six-day sale begins Sept. 29, while Amazon is yet to announce dates.

source https://finance.yahoo.com/news/indians-top-trader-body-seeks-153503271.html?.tsrc=rss