Restrictions stipulated in FDI policy for e-commerce should invariably be imposed on domestic e-comm players: CAIT

New Delhi, Feb 6 (KNN) The rules enforced on FDI funded e-commerce portals should be imposed on domestic e-commerce players, said Confederation of All India Traders (CAIT).

The traders’ body, CAIT said that after implementation of policy from February 1, 2019 the e-commerce market has become an open play ground for domestic e-commerce players. With Mukesh Ambani declaring to enter the e-commerce market, there is already much hustle bustle in e commerce sector.

It explained “We have seen how telecom sector is shattered in no time by Ambani creating a monopoly. Same thing might happened in e-commerce sector as well and there is a long line of biggies to follow Ambani in establishing their e-commerce portals to mint the money particularly when there is no policy.”

The Indian Retail Trade Accounts for an annual turnover of more than 42 lakh crores of rupees and biggies will certainly want to capture major stake via e-commerce, it added.

Amidst reports of Mukesh Ambani shortly launching a e commerce portal, CAIT asserted that the domestic e-commerce players stands in an advantageous position since FDI restrictions are not applicable on them. Again the traders both offline and online will be the worst sufferers. 

Thus, in order to preserve sanctity of the policy and to implement the same in its true letter and spirit without any discrimination, the rules enforced on FDI funded e-commerce portals should be imposed on domestic e commerce players immediately without giving any time for manipulations or thinking of circumventing the rules.

The principle of natural justice demands the same. Since retail Trade has been now under direct charge of Department for Promotion of Industries & Internal Trade, the Commerce Ministry is competent to make policy without any excuse.

The CAIT said that it will take up this issue in its right earnest on top priority and will soon meet Commerce Minister, Suresh Prabhu, Finance Minister Piyush Goyal and CEO of Niti Aayog Amitabh Kant beside meeting other concerned officials.

“If needed we are geared up to launch a national campaign immediately if our demand is not meted out”, said CAIT