CAIT plans to launch eCommerce portal in October
New Delhi, Sept 28 (KNN) In line of aligning physical trade with e-commerce, the Confederation of All India Traders (CAIT) is all set to launch its e-commerce portal Bharatemarket in October. With e-commerce policy, the CAIT has requested the formation of a Regulatory Authority for regulating and monitoring e-commerce business and having adequate powers to penalise offenders of e-commerce policy.
The CAIT has appealed the Union Commerce Minister, Shri Piyush Goyal to roll out E-Commerce policy of the Government at an early date to put curbs on mal-practices of large e-commerce players in India. While appreciating the call of Prime Minister Narendra Modi for the vocal on local and Atmnirbhar Bharat, the CAIT said that Indian e-commerce ecosystem has been greatly vitiated by large e-commerce companies and in the wake of the steep rise of eCommerce share in the Indian domestic trade, it is all the more necessary to have a robust and well-defined e-commerce policy so that small businesses of India should not suffer at the hands of large e-commerce companies having deep pockets and enormous resources.
The CAIT has also said that no relaxation in FDI policy for e-commerce is required rather the FDI norms for e-commerce should be strictly implemented. The CAIT expressed praise for Union Commerce Minister Shri Piyush Goyal for strongly spelling out the policy of the Government regarding e-commerce & FDI in retail trade on various forums in the past which gives a hope that e commerce policy will create an even level playing field in India.
CAIT National President, B.C. Bhartia & Secretary General has stated that while terming e-commerce as a future promising business said that given the increase in online business during the COVID lockdown and afterwards, it is all the more necessary to have an E-commerce policy with defined parameters and guidelines as to how the e-commerce business will operate in India.
Having such a large scope of e-commerce in India in absence of any policy will greatly distort the domestic retail trade comprising more than 7 crore of small businesses and therefore a well guided and framed e-commerce policy is much needed, B.C. Bhartia and Khandelwal said in a joint statement.
However, the CAIT has also been working actively on the launch of its e-commerce portal "Bharatemarket" very soon which will be a portal by the traders, of the traders and for the traders & consumers of India having a much different modal benefitting the existing physical retail system in the Country including the consumers.