Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at firstname.lastname@example.org in case you need any other additional information.
“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
| On 8th Aug 2020
Current account surpluses and deficits narrowed modestly in 2019, and ...
Pakistan's commerce ministry is busy trying to get the Textile Policy ...
| On 8th Aug 2020
Hermes International SA, a French high fashion luxury goods...
Social media critical in regeneration of businesses
Textile & apparel industry
GST is a complicated and lengthy process
We will promote latest technologies at ITMA Barcelona
Picanol develops, produces and markets high-tech weaving machines, based...
Founded in 2014, Fizzy Goblet is a Delhi / NCR based handcrafted leather...
Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Glen Raven Inc
Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...
Michaela Griggs & Peggy Schulz
Founded in 1929, Barco Uniforms started as an apparel company for beauty...
India Boulevard is a San Francisco-based curated fashion marketplace that...
"We should not compare India and the West. There are things we do that...
Sandeep and Sarah Shaikh Gonsalves
SS Homme celebrates the craft of traditional tailoring through the bespoke ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.