Jeff Bezos visits India, pledges investment to support small businesses

15 Jan 2020

image depicting Jeff Bezos announces he is stepping down as Amazon chief executive

Jeff Bezos visits India, pledges investment to support small businesses

Jeff Bezos visits India, pledges investment to support small businessesE-commerce giant Amazon's chief, Jeff Bezos is in India for a 3-day visit.

He landed on 14 January to attend an Amazon event in Delhi to fete small and medium businesses who partner with Amazon.
 	He is also expected to meet with Prime Minister Modi as well as several businessmen.
 	As part of the visit, he has pledged to invest US$1 billion to help digitise small and medium businesses (SMBs) in India.
 	However, his visit has also been met with protests by numerous small traders in 300 cities. They say that Amazon's pricing is hurting their business.

Currently, Flipkart and Amazon are also facing antitrust probes by the Competition Commission of India (CCI).

The antitrust probe aims to find out if some of the two companies' policies are having a negative effect on other competitors.
 	These policies include exclusive arrangements like launching certain phones, having deep discounts and promoting certain mobile phones brands over others.
 	The CCI has instructed its director-general to complete an investigation and submit a report within two months.
 	The spokespersons from Amazon as well as Flipkart have said that they are fully complying with the investigations.

What are antitrust laws?

Antitrust laws are regulations that monitor the distribution of economic power in business, making sure that healthy competition is allowed to flourish and economies can grow.
 	Antitrust laws apply to nearly all industries and sectors.

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E-commerce giant Amazon’s chief, Jeff Bezos is in India for a 3-day visit. He landed on 14 January to attend an Amazon event in Delhi […]

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