Home / Knowledge / News / Retail / Future 'extremely bleak' for small Indian retailers: CAIT

Future 'extremely bleak' for small Indian retailers: CAIT

20
Dec '19
Pic: Shutterstock
Pic: Shutterstock
The Confederation of All India Traders (CAIT) national secretary general Praveen Khandelwal recently said if only 1.6 per cent of Indian retail sales, contributed by e-commerce as per a World Bank report, could destroy the existing retail ecosystem due to unethical and predatory practices by large players, then the future seems ‘extremely bleak’ for small retailers.

Two large companies that have almost 80 per cent market share of India’s e-commerce business have given our country the most maligned and vitiated foundation for e-commerce business, he said in a statement.

In the last 12 months, more than 50,000 mobile retailers, 30,000 electronics retailers, about 25,000 kirana and 35,000 garment retailers have shut their businesses, mainly due to these e-commerce giants who have “blatantly violated the government’s foreign direct investment policy and indulged in inventory control, predatory pricing, preferential seller treatment, illegal exclusivity among other violations,” he said.

“If such companies are allowed to grow in the same manner, we can very well foresee what a precarious future is in store for India,” he added.

CAIT urged the government to create a strong regulatory framework and sound policies that does not allow any foreign or domestic company to monopolise or take undue advantage by circumvention of India’s sovereign laws.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Sep 2021

EU extends GSP plus status for Pakistan with 6 new conventions

The European Union (EU) has extended its general system of...

Pic: Shutterstock

Apparel/Garments | On 25th Sep 2021

Bangladesh seeks Russian support for ensuring direct exports there

Bangladesh commerce minister Tipu Munshi recently sought Russian...

Pic: Boris-B / Shutterstock.com

Retail | On 25th Sep 2021

US’ Halloween spending to reach $10.14 bn this year: NRF

Consumer spending in the US on Halloween-related items is expected to ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Biggest learning was adaptability

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Ghatit Laheru,

Ghatit Laheru

When the 2001 tremblor wrecked the Kachchh region of Gujarat throwing many ...

Susan Bhaktul,

Susan Bhaktul

Established in 2000 as a liaison with the Government of India, Industree...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by <b>Aprajita Toor</b> were born out of a deep desire to...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2021

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


Advanced Search