CAIT opposes Amazon’s plan to buy Prione

CAIT claims said that the e-commerce major’s joint venture with Catamaran would be a violation of India’s foreign direct investment policy.

Domestic traders body CAIT on Thursday claimed that Amazon’s plan to acquire Prione Business Services — the e-commerce major’s joint venture with Catamaran — would be a violation of India’s foreign direct investment policy.

Amazon has said it would acquire Prione. In August, Amazon and N. R. Narayana Murthy’s Catamaran had announced that they would not continue their Prione joint venture beyond May 2022.

If the approval from CCI is given to Amazon, “it will be a gross violation of the FDI policy,” the Confederation of All India Traders (CAIT) has said in a statement.

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