Amazon keeps struggling for huge Indian consumer market
The American online retailer is reportedly taking its fight to the tribunal in a new move over Future deal
Amazon has reportedly filed a new legal appeal against the latest ruling of the national antitrust agency that suspended a 2019 deal between the US e-commerce giant and Indian retailer Future Group.
Last month, the Competition Commission of India (CCI) ruled out its approval of Amazon’s deal with Future agreed nearly three years ago. The move reportedly dents the American firm’s efforts to block the sale of Future’s retail assets to Indian market leader Reliance Industries.
Moreover, as a result of the ruling, earlier this month a New Delhi court halted Amazon’s authorized battles with now-estranged associate Future in another blow to the US giant.
Amazon filed an appeal against the CCI suspension decision at India’s National Company Law Appellate Tribunal on Saturday night, according to unnamed sources familiar with the issue as quoted by Reuters.
Separately, Amazon filed a challenge in the Supreme Court against the decision by the New Delhi court, the sources told the agency.
The latest filing comes as part of a long-running litigation that has tangled Amazon, Future, and Reliance in a bitter battle for retail dominance in India’s booming consumer market.
Future Group, which has a notable presence in Indian retail and fashion sectors, runs popular supermarket chains like Big Bazaar and Food Bazaar, as well as lifestyle stores, including Brand Factory and Central.
Mumbai-based Reliance Industries, whose diverse businesses include energy, petrochemicals, natural gas, retail, telecommunications, mass media, and textiles, is looking to expand its vast footprint by acquiring debt-laden Future.
In December, Amazon warned India’s antitrust body that revoking its 2019 deal with Future would send a negative signal to foreign investors and allow Reliance, controlled by one of India’s richest men Mukesh Ambani, to “further restrict competition.”
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