Monday 16 December 2019

CAIT urges govt to take action against e-commerce firms flouting FDI policy

CAIT urges govt to take action against e-commerce firms flouting FDI policyNEW DELHI: Traders' body CAIT on Sunday urged the government to take action against e-commerce companies flouting Foreign Direct Investment (FDI) norms and indulging in unfair practices.

Terming such firms "global economic terrorist" and "economic intruders, tax offenders and policy & law violators", the Confederation of All India Traders (CAIT) in a letter sent to Commerce Minister Piyush Goyal demanded early enforcement of e-commerce policy and national retail policy.

It also called for constituting an e-commerce ombudsman and a Retail Regulatory Authority.

CAIT also criticised the Ministry of MSME's reported move to join hands with some prominent e-commerce companies for onboarding of small retailers on their platforms.

This is highly deplorable and the traders of the country will not accept such collusion with these firms, it added.

Their business model is greatly hampering 'Make In India' program as domestic producers are unable to compete with their predatory pricing and deep discounting tactics, CAIT said.

It urged Goyal to take immediate steps to develop an indigenous e-commerce marketplace free from all unfair practices to enable the consumers to obtain best products at reasonable prices.

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