Traders appeal for immediate roll out of e-commerce policy

New Delhi, May 3 (KNN) The Confederation of All India Traders (CAIT) on Wednesday urged the Union Minister of Commerce and Industry, Piysuh Goyal for an early roll out of e-commerce policy and rules under Consumer Protection Act.

The trader’s body has also requested for a new press note replacing Press Note No 2 of FDI in retail policy to streamlining e-commerce trade in India.

The implementation of these three policy initiatives is keenly awaited by the traders of the country since they are facing great harassment at the hands of foreign e-commerce companies, said CAIT.

Traders have complained that they are in an uneven level playing field because of predatory pricing, exclusivity and owing inventory.

CAIT National President B C Bhartia & Secretary General Praveen Khandelwal said that the trading community is deeply anguished over the rampant violation of laws and rules by several global e-commerce giants.

It is deeply regrettable that it is all happening despite your unequivocal warnings at several times expressed at various national & international platforms for more than two years, said the trade leaders.

Bhartia & Khandelwal said that through e-commerce no substantial FDI is entering into India rather the money which comes under the guise of FDI is used for cash burning or to support huge losses incurred by global e-tailers.

“We are of the firm opinion that e-commerce democracy in India should not be compromised at all,” they said.

Both trade leaders further added that it has been duly established that several foreign funded e-commerce companies are indulging into predatory pricing, deep discounting, loss funding, exclusivity, owning inventory and preferential seller system in their business practices.  (KNN Bureau)