In a recent study, the CCI said India's was the fastest growing e-commerce market with revenue this year expected to reach $120 billion, triple its size in 2017.
On alliance between the United States and India, he said that it will be most important in 21st century and is "going to be the Indian century". The top executive will also attend SMBhav an event focussing on small and medium businesses in India - that is slated for January 15-16 in the capital city.More news: Red Sox officially part ways with Alex Cora
The Confederation of All India Traders (CAIT), a group representing roughly 70 million brick-and-mortar retailers, said it will protest across 300 cities during Bezos' stay in the country.
The competition regulator's probe was prompted by complaints from small trader associations like CAIT, who allege that the online retailers engage in predatory pricing and also give preference to some sellers on their platform, particularly in those it which holds an equity stake (like AmazonBasics luggage).
"In the last 24 months, Amazon has poured in more than half a billion dollars into its Indian payment business alone".More news: How to watch Jeopardy GOAT, night 4
The Competition Commission of India is investigating the two companies' e-commerce businesses in the country, it said Monday. A CAIT spokesperson told TechCrunch earlier this week that its member merchants were pleased with India's antitrust watchdog's move.
Six years later, and Amazon is very close to doing so, but Bezos is facing a decidedly more frosty welcome this time around.More news: Soleimani Awarded Syria's Medal of Honor, Posthumously Promoted After US Strike
According to industry estimates, e-commerce accounts for just 3% of retail sales in the country.