Flipkart is apparently afraid of Amazon, Says not in favour of FDI
- Thread starter swatkats
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Oracle
When FDI in e-commerce is not allowed in india as per law of the land and they bring foreign investments. What does that mean?? Legal or illegal?
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Well written article on the same topic
http://trak.in/tags/business/2014/06/09/flipkart-no-fdi-ecommerce-reason/
avi
Keymaster
We have agreed to settle the matter out of court. I spoke with their CEO (I still have doubt that he was same guy who replied to my emailshow is your affair going with the breadboard company?
) and he was polite enough and I was convinced. Moreover settling now felt like a better option than fighting in court for 8-9 months. However I had made my homework and I was ready to sue them. I was mentally prepared for whatever shit was about to come. They know I was very serious. I had contacted and sent emails to electronic companies for which Proto were distributors. I would go to IRC and speak with officials representing the company and share my story. I would give links to TE or anywhere else I had posted. Tell me who would do all this just for 150 Rs breadboard? I asked couple of people to retweet for me, send them emails of the links I posted. They had stopped emailing to me and next day in afternoon I recieved an apology email. Power of social media! Seeing my posts they realized I am not the kind of person they want to fcuk. They get away from others for a small sum, but not with me.
Along with breadboard I had also bought other items, so total cos was 2400 INR. I asked them to refund for full money. And he agreed. The matter was never about breadboard exactly. They were selling cheap quality counterfeit in the name of reputed brand and they insulted me. I lost my cool totally after their last email saying I am haggling over a small amount. Thats what made me teach them a lesson so that they think 10 times before they deal with customers. They wanted to save 50-60 Rs, but ended up paying 50x amount.
I am pretty sure they would be polite as baby next time to customers.
We have agreed to settle the matter out of court. I spoke with their CEO (I still have doubt that he was same guy who replied to my emails
They know I was very serious. I had contacted and sent emails to electronic companies for which Proto were distributors. I would go to IRC and speak with officials representing the company and share my story. I would give links to TE or anywhere else I had posted. Tell me who would do all this just for 150 Rs breadboard? I asked couple of people to retweet for me, send them emails of the links I posted. They had stopped emailing to me and next day in afternoon I recieved an apology email. Power of social media! Seeing my posts they realized I am not the kind of person they want to fcuk. They get away from others for a small sum, but not with me.
Along with breadboard I had also bought other items, so total cos was 2400 INR. I asked them to refund for full money. And he agreed. The matter was never about breadboard exactly. They were selling cheap quality counterfeit in the name of reputed brand and they insulted me. I lost my cool totally after their last email saying I am haggling over a small amount. Thats what made me teach them a lesson so that they think 10 times before they deal with customers. They wanted to save 50-60 Rs, but ended up paying 50x amount.
I am pretty sure they would be polite as baby next time to customers.
Excellent.I would have actually let go of this.
kaun matha fodi kare ab?How much are you settling for?
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Oracle
Let the courts decide.
Need i point the irony here. Your position on fdi in e-commerce is clear. You are for e-commerce in general. yet here you are calling out an e-commerce company for 'illegal' practices before they've even been charged
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singenaadam
Innovator
There are enormous benefits of large scale investments in the logistics, cold chains, other supply chains - they generate actual employment to the mango-people. These would be accelerated if big boys like walmart come in. Main problem is that we have Biyani & Co to lobby to block their entry, while the main beneficiaries (common people) do/can't lobby. It is the lobbying power of 3 crore shop keepers vs powerlessness of 60 crore people.
Reg. profits, obviosuly no company is for social service, but, there are many options for India to ensure that locals also get some of it - for ex. any company can be asked list itself in India, once its turnover crosses some limit, say, 1000Cr etc. etc. Solutions are many, but the will to address the problem must be present in the first place!
Reg. profits, obviosuly no company is for social service, but, there are many options for India to ensure that locals also get some of it - for ex. any company can be asked list itself in India, once its turnover crosses some limit, say, 1000Cr etc. etc. Solutions are many, but the will to address the problem must be present in the first place!
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Oracle
Revolution
Contributor
Indians can't learn to do better unless they are taught by foreigners.
We need Briti$h and East Indi@ Company again.
If not then then I will start Bharat Choro Andolon.
Only this time all ppl of India will left the county not the Briti$h.
The problem arises when someone is OK with FDI at some point and later changes its stand and says NO.Let the courts decide.
Need i point the irony here. Your position on fdi in e-commerce is clear. You are for e-commerce in general. yet here you are calling out an e-commerce company for 'illegal' practices before they've even been charged
I don't mind if flipkart invested money is legal or not but it shouldn't necessarily act EVIL and should rather call for a level playing field.
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Oracle
man, they will never call for a level playing field. brick & mortar shops cannot compete there already and FK cannot compete against the likes of amazon with very deep pockets. They want to elliminate competition any way possible. This is just plain business.
The question is whether 'the lobby' can oppose this or not. Right now they are winning. The fdi legislation passed offered nothing for e-commerce, it was so diluted that walmart sold its share back to bharti so uninteresting even for non-ecommerce. FDI as it stands right now is not much use to foreign vendors of any type. All this accompanied with no confidence vote tamasha. At the time both congress and opposition got to look good.
I remain sceptical as to what more can be done, given the present state of affairs. Yes there are rumours that things may change but as i said earlier i'll believe it when i see it.
The question is whether 'the lobby' can oppose this or not. Right now they are winning. The fdi legislation passed offered nothing for e-commerce, it was so diluted that walmart sold its share back to bharti so uninteresting even for non-ecommerce. FDI as it stands right now is not much use to foreign vendors of any type. All this accompanied with no confidence vote tamasha. At the time both congress and opposition got to look good.
I remain sceptical as to what more can be done, given the present state of affairs. Yes there are rumours that things may change but as i said earlier i'll believe it when i see it.
I really don't know what all the fuss is about, did not read the full article as well. But regarding this point, I would like to give you some info which I think you don't know about.
1) letsbuy was never competition to fk. It had created a fan following of people who were bound to kill it. People went to letsbuy ONLY for their insane discounts. The day they stopped it, no one would buy from them. Their death was bound to happen.
2) Most of the investors in letsbuy had also invested in FK(This I know, cant say about myntra deal). It made good sense for them to end it this way.
Poga
Forerunner
You have to see where FDI has proved beneficial. Nowhere. They will destroy local markets and losers in the final run will be the consumers. We are an emerging economy and these giants rule by ways of bulk. They will come and sell us the same local products and the profits will go overseas. Manufacturers will be rendered helpless as they monopolize the market and you will be forced to sell to them. Money we make in form of products should stay in India.
those who don't change with the times are left behind. look at what happened to mighty ambassadors and contessas... HM didn't do anything to change their performance or to promote them. Hyundai, Honda, Toyota etc had to prove themselves in india and at the same time, compete with the existing indian brands. MS still commands the maximum market share despite the entry of several well known brands. MS simply tried to keep up with the customers' needs and changed according to the time. HM was bound to rot.
there are many such examples where lala-type companies vanished because they didn't change... they didn't offer better stuff to consumers.
As far as i can remember, it was our own indian govt that was forcing us to buy (copied designs) from bajajs, HM, PAL etc. Now, with so many options to choose from, how can someone 'force' you to buy a particular product? do you live in a dystopian world?
Poga
Forerunner
Forcing to buy does not imply selecting something when better options exist. I am not of the myopic view that we be secluded from the technological progress the world is making. Foreign investment is welcome but not in the direct form. We have the manpower, the natural resources, ability and caliber. What we don't have (SME and MME) is financial resources to the extent of the great Walmarts (Which has already entered BTW check: Easyday)
May the foreign companies earn by all means for they excel at mechanizing, but don't just become a machine.
Dystopian world? Wake up buddy, we are already there.
May the foreign companies earn by all means for they excel at mechanizing, but don't just become a machine.
Dystopian world? Wake up buddy, we are already there.
avi
Keymaster
Looking at our engineering colleges and engineers, I doubt if we have ability.
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