The online market, in particular, continues to flourish, attracting shoppers with competitive prices and the convenience of home delivery. This surge in online shopping popularity is further fueled by the generous discounts and special offers provided by e-commerce companies during the festival season. To maximize savings, shoppers can take additional precautions and leverage various strategies.

Festival Sale Highlights:

Leading e-commerce giants like Amazon and Flipkart have kicked off their festival sales with a bang. The Big Billion Days sale on Flipkart and The Great Indian Festival Sale on Amazon feature massive discounts on a wide range of products, including cell phones, refrigerators, washing machines, ACs, water purifiers, kitchen appliances, TVs, and more.

Money-Saving Tips:

1. Credit and Debit Cards: Utilize credit and debit card transactions to unlock additional discounts. Keep an eye out for special offers tailored for cardholders, such as exclusive discounts on Axis Bank, ICICI, and SBI cards during the festival sale.
2. Exchange Offers: Take advantage of exchange offers provided by Amazon and Flipkart. Trade-in your old items, such as phones, for new ones at discounted rates, saving you money on your purchases.
3. Early Access: Premium subscribers can enjoy early access to special deals before the official start of the sale. Amazon and Flipkart Prime members gain a one-day head start, allowing them to snag the best deals before they run out.

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Goyal scrutinized Amazon’s recent $1 billion investment in India, stating that the American retailer is not contributing positively to the Indian economy but rather compensating for losses incurred abroad. This compensation, according to Goyal, could have detrimental effects on millions of small traders in the country. E-commerce platforms are increasingly displacing small retailers who rely on high-priced, high-margin products for survival, especially affecting small, local stores.

The impact of cloud kitchens on traditional restaurants and the shift towards online food product purchases further adds to Goyal’s concerns. Addressing a gathering of chartered accountants, Goyal highlighted a provision in Indian law that restricts foreign e-commerce companies to engage only in business-to-business transactions within the country, a regulation he believes has not been diligently followed.

Goyal criticized companies like Amazon for leveraging their financial power to manipulate market prices and consumer preferences through algorithms. He raised alarms about the escalating prices and potential social disruptions caused by the growing unemployment resulting from the decline of small shops.

While Goyal clarified that the government does not oppose e-commerce entities, he stressed the importance of fairness and transparency in their operations. The government aims to support online businesses that offer speed and convenience while upholding ethical standards.

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