Reports indicate that Singapore based ecommerce firm Shopee may be shutting down it's India operation despite being present in the subcontinent only over the last 6 months.
ET quoting unnamed sources stated that the etailer which competes with the likes of Meesho, Flipkart and Amazon, especially at the lower-end of the market is shutting down it's operations without notice. The company announced to its local team in a company-wide town hall on Monday that it will exit India.
Shopee had faced some opposition from local trade bodies which accused them of predatory pricing and Chinese influence. Both the charges however were refuted by regulatory bodies.