Amazon’s recent planned $1 billion investment in India has proven to be rather unwelcoming. On Wednesday, CEO Jeff Bezos announced that the e-commerce giant wants to put money into “digitizing small and medium businesses” in India, adding that in the 21st century, “the most important alliance is going to be the alliance between India and the United States.”
World’s richest man an economic terrorist? So seem to believe people in the country when the news of investment surfaced. However, SME’s and other small business proprietors are of the opinion that the “fruitful” associating would not see the involvement if Amazon itself, and to show their dissonance, thousands of people took to the streets in protest.
Sumit Agarwal of the Confederation of All India Traders (CAIT) stated that the demonstrations were being held in as many as 300 cities across the country. Agarwal seemed averse to the investment decision made by Amazon and expressed in a tweet that the e-commerce giant will “destroy small retailers.” He also called out on Bezos and alleged him of being an “economic terrorist.”
Sumit Agarwal of CAIT also linked the current investment prospect offered by Bezos to India’s colonial past. He referred Bezos and Amazon were “foreign economic terrorists & invaders.” Protesters also compared Amazon to the East India Company, a British company that colonized India, parts of Southeast Asia, and Hong Kong. The slogans shouting “Bezos Go Back” surfaced claiming Jeff as India’s new Simon.
The protests succeeded concerns that Amazon will leverage its enormous size to undercut small businesses on price, making businesses obsolete who are unable to compete with the steep discounts and rebates that Amazon offers to the larger sellers.
Being criticized on similar lines, Amazon has faced backlash in Europe, and the US too. Potential anti-trust investigation has also been issued for Amazon over the potential abuse of its marketplace platform.