Quick commerce platforms flouting FDI norms, competition law, alleges CAIT

The Confederation of All India Traders (CAIT) on Wednesday alleged that quick commerce platforms are violating several domestic laws in the country, including Foreign Direct Investment (FDI) norms, the Competition Act, and the Consumer Protection Act.

In a white paper, the trade body claimed that the country’s top three quick commerce platforms – Zomato-owned Blinkit, Swiggy Instamart, and Zepto – have received FDI funds of more than Rs 54,000 crore.