‘Cash burn due to discount hurts marketplaces’

Flipkart co-founder and executive chairman

Sachin Bansal

on Friday said

cash burn

due to

discounting

is hurting online marketplaces. “That money can be used in R&D and in beefing up other processes.” Bansal said tech has not been a focus area for policy makers in India and the situation is grim for internet companies in Europe for the same reason. “In Europe, there is a tussle between authorities and internet companies for taxes at present. In contrast, China has done well for itself because it has built a self-reliant ecosystem for its internet companies.” Bansal said in India “We have to face global competition and that has made us stronger”.
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