CAIT demands regulatory authority for e-commerce during its National Round Table Conference

New Delhi, Aug 8 (KNN) In a unanimous resolution passed at the ‘National Round Table Conference on E-Commerce Policy’ organized by Confederation of All India Traders (CAIT) to frame a well defined policy for creating level playing field and protection of data and engagement of participation of MSME sector in e-commerce business, it was resolved that Press Note No. 3 and a regulatory authority for e-commerce should be constituted to regulate and monitor e-commerce business.

Chairing the round table, CAIT Secretary General Praveen Khandelwal said “it is estimated that by year 2022 the size of digital economy in India will be USD 1 trillion and by year 2030 it will rise to 50% of the total Indian economy and therefore formulating a comprehensive e commerce policy having inclusion of a fair environment for domestic trade and enabling them with latest technology is need of the hour.”

He also stressed the need of a strong data protection framework and maintaining privacy in digital environment.

Praising the introduction of draft e-commerce policy, he said allowing limited inventory to e-commerce platform is not at all acceptable since they are only technology facilitators and nothing to do with inventory.

If they are allowed to keep inventory, it will distort the basic fundamental of the policy, he added.

He also pointed that the term ‘bulk purchases’ is ambiguous and as such needs to be defined and clarified.

Khandelwal suggested that the e-commerce companies should not be allowed to offer any discount since they are not the owners of inventory and each e-commerce company should be duly registered with authorities.

Besides, speakers at the conference lamented that there is no common definition of e-commerce. They said that the data on trade of digital products is inadequate which leads to distortions and anomalies in e-commerce trade.

They opined that on one side a facilitative regulatory environment for leveraging access to data needs to be created whereas on the other hand it is also necessary to build a better eco system for digital financial flow.

At the same time creation of level playing field and stimulation of the participation of MSME sector is all the more necessary to have robust e commerce trade in the country, they added.

Calling RuPay a total online failure, speakers at the conference said that government should promote its Bharat QR launched in 2017 for making digital payments in e commerce transactions.

They said, “Suitable mechanism for digital lending should also be framed.”

On the basis of above recommendations made by the participants from several organizations, CAIT will draft recommendations and will submit to Union Commerce Minister Suresh Prabhu for necessary action.

The round table was organized by CAIT which was attended by prominent leaders of Trade & Industry, Transport, Small Industries, Consumers and several E-Commerce Companies.