What brings Tata CLiQ in direct competition with the three eRetail biggies (Flipkart, Snapdeal and Amazon) is that the platform will offer electronics as well along with apparel, and footwear products.
CAIT has reached to the DIPP post an advertisement in newspapers announcing the sale of an item together with its discounted price to be available on Flipkart's portal which is said to be a marketplace.
This is not the first time that the two mutual fund investors have lowered their valuations. Fidelity and Valic had earlier marked down their holdings in the company by 24 per cent and 12 per cent respectively in the previous quarter.
Journey of eCommerce, which is already experiencing a tough rollercoaster, seems to get tougher now. After various shocks regarding the downfall of the industry, here is yet another massive quake that will add to the miseries.