Home / Knowledge / News / Apparel/Garments / CAIT urges PM to overhaul retail trade

CAIT urges PM to overhaul retail trade

Nov '18
Courtesy: rawpixel.com from Pexels
Courtesy: rawpixel.com from Pexels
The Confederation of All India Traders (CAIT) has demanded complete overhauling of retail trade of India. It has listed some of the core and critical issues including need of an immediate e-commerce policy, incentives and encouragement to digital payments, accidental insurance of traders, national policy for retail trade, and a ministry of internal trade.

“The current e-commerce business in the country is greatly vitiated by online companies by indulging into predatory pricing, deep discounting and loss funding thereby creating an uneven level playing field and influencing the pricing which is against FDI Policy 2016 Press Note No. 3 of the Government. There are no rules and regulations for e-commerce companies. Therefore, there is an urgent need of an e-commerce policy by the government and formation of a regulatory authority to monitor and regulate e-commerce business in the country and to create a level playing field,” CAIT secretary general Praveen Khandelwal said in a communication to Prime Minister Narendra Modi.

CAIT also suggested that in association with trade associations, the government should launch an e-commerce portal where traders are encouraged to do their business. “Such a portal will be transparent, and traders will certainly like to be associated with such portal,” Khandelwal said.

Stating that serious efforts are needed for faster adoption and acceptance of digital payments across the country, he said the charges levied by the banks in digital transactions is one of the major deterrents in its adoption. “The bank charges should not be levied either on traders or consumers and it should be directly subsidised by the government to banks. In addition, relaxation in taxes should also be given to those traders who do their maximum business with digital transactions.”

He also suggested that National Payment Council of India (NPCI) should be made the owner of Rupay card and should be asked to ensure greater penetration of Rupay all over the country. On the other hand, an independent regulator should be formed to regulate digital transactions. A Digital Payments Promotion Board may also be set up with all stakeholders to ensure that more and more people use digital payments in order to make India a less cash nation, the communication said.

CAIT further urged that on the pattern of UP, the traders registered with GST should be given an accidental insurance of ₹10 lakh by the government. A special policy should also be formulated to provide compensation to traders affected by any natural calamity. It is also suggested that some percentage of the tax deposited by the traders should be kept reserved for giving pension to traders after attaining the age of 60 years, CAIT proposed.

It suggested that trade associations across the country should be associated for disbursement of Mudra loan for its effective implementation.

CAIT also urged the Prime Minister for redefining of credit norms for small businesses, better infrastructure facilities in commercial markets, augmentation of safety and security of traders and commercial markets with help of trade associations. (RKS)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pandemic causes trade decline, dips commodity prices: IMF

Current account surpluses and deficits narrowed modestly in 2019, and ...

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pak ministry working to get textile policy cleared by ECC

Pakistan's commerce ministry is busy trying to get the Textile Policy ...

Pic: Hermès International

Fashion | On 8th Aug 2020

Hermes Int H1 FY20: revenues €2,488 mn; net profit €335 mn

Hermes International SA, a French high fashion luxury goods...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Representatives, Textile & apparel industry

Textile & apparel industry

GST is a complicated and lengthy process

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Erwin Devloo,

Erwin Devloo

Picanol develops, produces and markets high-tech weaving machines, based...

Laksheeta Govil,

Laksheeta Govil

Founded in 2014, Fizzy Goblet is a Delhi / NCR based handcrafted leather...

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Marten Alkhagen, Swerea IVF AB

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

July 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search