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.The Confederation of All India Traders 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#
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)
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