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CAIT alleges violation of FDI norms by e-commerce firms, writes to PM Modi

Traders' body CAIT wrote to Prime Minister Narendra Modi seeking "strong action" against e-commerce firms for alleged violation of FDI policy by them

The legal spat has not only revealed the intensity of the fight between two of the world’s richest men -- Jeff Bezos and Ambani -- but has also sparked a “foreign versus local” debate

CAIT also requested that an e-commerce policy should be announced immediately with an explicit provision of empowered regulatory authority

Press Trust of India New Delhi
Traders' body CAIT on Sunday wrote to Prime Minister Narendra Modi seeking "strong action" against e-commerce firms for alleged violation of FDI policy by them.
It also sought setting up of an empowered regulatory authority to regulate and monitor the e-commerce business in India.
In the letter to the Prime Minister, the Confederation of All India Traders (CAIT) claimed that "big e-commerce companies having deep pockets areleaving no stone unturned in monopolising the e-commerce business and retail trade of India with their malpracticesand violating FDI policy of the government and relevant laws and rules".
It further said that "despite making several complaints against them,so far no concrete action has been taken and therefore it has become a major roadblock for small businesses to conduct online business activities".
The traders' body claimed that various government authorities have failed to protectthe sanctity of the policy and law of the government.
"Though the Ministry of Commerce has taken some initiatives to impress upon them to conduct their business activities under the purview of the law but these e-commerce companies have been avoiding the law on one pretext or the other," CAIT said in the letter.
The traders' body while "urging for strong action against e-commerce companies" also requested that an e-commerce policy should be announced immediately with an explicit provision of empowered regulatory authority.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Nov 29 2020 | 6:02 PM IST

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