Economy

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

PTI New Delhi | Updated on December 15, 2019 Published on December 15, 2019

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Traders’ body Confederation of All India Traders (CAIT) 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 terrorists” and “economic intruders, tax offenders and policy and law violators”, 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.

‘Highly deplorable’

CAIT also criticised the Ministry of MSME’s reported move to join hands with some prominent e-commerce companies for on-boarding 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 the ‘Make In India’ programme 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.

Published on December 15, 2019
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