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Create regulatory authority for e-com: CAIT tells govt

Jan '19
Create regulatory authority for e-com: CAIT tells govt
The Confederation of All India Traders (CAIT) has urged the government to create an Independent Regulatory Authority for E Commerce to regulate and monitor the e-commerce trade. The said Authority should be duly empowered to take action against any entity which defy the policy and ensure that the policy is strictly implemented in its true letter and spirit.

“FDI norms as spelled out in the policy (recently by the government) should also be made applicable on domestic e-commerce players as well to restrict them for adopting any unethical business practices and remain at par with other e-commerce players,” CAIT national president BC Bhartia and secretary general Praveen Khandelwal said in a communication to Union commerce minister Suresh Prabhu.

Bhartia and Khandelwal said that the business community of the country stands in solidarity with the Union government on issue of changes made in FDI policy in e-commerce for bringing transparency, even level playing field and fair competition.

They thanked the minister for releasing the policy which “brings an end to era of unethical business practices of exclusivity, predatory pricing, deep discounting and loss funding being constantly adopted by global e-commerce players.”

They said that any move to bring further changes in FDI Policy to the advantage of global players under any kind of pressure or coercion will be stoutly opposed by the business community of the country. (RKS)

Fibre2Fashion News Desk – India

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