Regulatory Authority Needed For E-Commerce To Provide Level-Playing Field For Small Businesses: CAIT

New Delhi, Aug 24 (KNN) There is an urgent need for regulations in the e-commerce industry to provide a level-playing field for small businesses, Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal said.

Speaking at a Meesho event for MSMEs on Tuesday, Praveen Khandelwal said that the "same set of 5-6 companies" are top sellers on prominent e-commerce platforms which leaves no scope for small businesses to grow.

"There has to be a regulatory authority like SEBI for share market, and for telecom industry to regulate and monitor e-commerce and we are going to request the government for the same," he said.

The CAIT secretary general pointed out that the government is likely to roll out a robust e-commerce policy against unethical business practices and foreign direct investment (FDI) violations by the end of the month.

The proposed national e-commerce policy of 2019 by the commerce and industry ministry is said to be in the final stages, with the e-commerce policy aiming to prepare strategies for inclusive and harmonious growth of the e-commerce sector.

"It is in the domain of the government to announce this, but I believe that by the end of the month, we will be having a robust ecommerce policy and rules," he said.

The traders' body has time and again alleged that foreign online retailers violate norms of FDI in commerce and the government should take action against those indulging in malpractices such as deep discounting and predatory pricing, reported Money Control.  (KNN Bureau)