Shopee, Singapore's giant E-commerce Platform plans to shut down its operations in India. E-commerce platform Shopee entered the Indian market last year and achieved wide acceptance very quickly due to the wide range of offered budgets. The Shopee website and application are no longer in existence on Google Play as well as Apple App Store for download.
The Government blocked another famous Singapore-based application Free Fire in India just a few months ago. The Free Fire Max, a popular game continues to be available for both IOS and Android users. Earlier it was said that the Shopee application's sudden shutdown has a link to the Free Fire ban, however that is completely a different case.
A source who is close to this matter informed Since Independence media that the shutdown decision of the Shopee application is not related to the ban of the Free Fire application. Shopee said in an official statement that it is shutting down its business in the South Asian market because of "Global Market Uncertainties."
In addition to this, Shopee users who have already installed the application on their smartphones have received the shutdown message. Now, the e-commerce platform is no longer taking orders in the country.
"We have chosen to close our early-stage Shopee India effort due to global market uncertainty." During this transition phase, we will focus on assisting our local seller and buyer communities, as well as our local team, to make the process as seamless as possible” a company executive told Since Independence Media.
"We will continue to focus our efforts on making a good effect in our worldwide communities, in keeping with our objective to improve the lives of the underserved via technology," the company said.
"We regret to tell you that the Shopee India platform will be stopping operations with force from 29 March, midnight IST," the e-commerce platform said in a statement sent to users who have made orders on the website. Rest assured that any orders completed before this date will be fulfilled as normal and that all customers who have placed orders on our platform will continue to have access to after-sales services and support." The identical notice appears on the Shopee app and website.
For those who are unaware, the action comes months after the Confederation of All India Traders (CAIT) wrote recently to India's Prime Minister, Narendra Modi, warning him that Shopee's approach of offering a broad choice of items at low costs will harm local businesses.
Meanwhile, hundreds of employees in India were taken aback by the abrupt cessation of commercial activities. According to Since Independence Media, the local India team knew about the shutdown earlier on Monday.