Discounted mobile phones on e-commerce sites caused 2 lakh people to lose jobs: ICA
ICA report has argued that the companies were circumventing rules under Press Note 3 on FDI by holding inventory and influencing the prices of electronic goods, eroding offline retailers’ revenue and putting jobs at risk. The second threat that led to the closure of several mobile stores is the availability of the handsets on the companies online platforms as well as in their offline stores, which provide exclusive deals to customers.
Indian Cellular Association (ICA) says that sales of mobile phones at discounted prices by e-commerce platforms has led to unemployment of nearly 2 lakh people. Image source: Reuters