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CAIT snubs PwC for its misleading report on e-commerce

Updated: Jan 17, 2019 09:49:03am
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CAIT snubs PwC for its misleading report on e-commerce

New Delhi, Jan 17 (KNN) The Confederation of All India Traders (CAIT) refuted the Pricewaterhouse Coopers (PwC) report that claims that India's e commerce curbs could hit online sales by $46 billion by 2022.

In a statement, CAIT said “We have come across various media reports quoting PwC that India's e commerce curbs could hit online sales by $46 billion by 2022. The said report is quite baseless, concocted and jugglery of figures and an attempt by the PwC to frighten the concerned sections and is highly misleading the country.”

Sharply criticising the PwC and its report, CAIT said that the report has come at a time when the government is taking serious and stiff steps to enforce the FDI policy in e commerce.

Over this matter, CAIT questioned that the FDI policy is in implementation since 2016 and the recent Press Note of the Government is merely a clarification of the policy. There is nothing new in the policy then why the PwC is making an analysis now and calling the clarifications as curbs.

The report of the PwC is nothing but an exercise of indirectly influencing and pressurising the government to bring amendments as sought by global e commerce players, it added.

In other words PwC is also a part of unholy nexus of global e commerce companies, US Chambers, Indian Industry Organisations and foreign investors, claimed CAIT.

“PWC has said that they have used data provided by the Industry and publicly available information and not conducted any independent report. We call upon PwC to make public the draft analysis, Industry resources, what kind of data made available and what is the information on public domain on the basis of which the said report has been released in order to validate the report”, said the trade leaders.

Calling such moves a trend, whenever the government takes any step not to the liking of global companies or corporate houses, CAIT said “We highly refute the said report and analysis and challenge the PwC for an open debate on this report at any open platform.”

PwC is attempting to mislead the nation and policy makers to help global e commerce players. It is a sinister design of the PWC and a highly manipulated game of global players and PWC is pretending to be their mouth piece, trade leaders added.

It is interesting to note that in such reports they never divulge the resource, sample size or basic fundamentals of the analysis, CAIT pointed.

It said that PwC should prove its figures before releasing with such report. If there is inflation of figures the PwC need to publicly apologise for running a campaign for vested interest groups.

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