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CAIT seeks early rollout of ecommerce policy

Press Trust of India  |  New Delhi 

Traders' body Sunday sought early introduction of the in the wake of festive season beginning October 15.

In a statement, the Confederation of All Traders (CAIT) said: "In absence of any policy, will play their dirty game of predatory pricing, deep discounting and loss funding and vitiate the of the country".

It also urged to restrict preferred sellers of from selling products on these portals, claiming that these sellers are instrumental in malpractices.

The government has set up a group of secretaries to look into the issues, with concerns being raised on some proposals of the

The initial had suggested several steps to promote growth of the fast growing sector.

It said may have to store user data exclusively in in view of security and privacy concerns.

The draft stated that any group company of an or marketplace may not be allowed to directly or indirectly influence the price or sale of products and services on its platform, a move that could completely restrict from giving deep discounts.

The draft has suggested introduction of a pre-set timeframe for offering differential pricing or deep discounts by to customers.

Further, the draft recommended permitting 49 per cent foreign direct investment (FDI) in Currently, FDI in such businesses is prohibited and it is allowed only in the marketplace model.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, September 16 2018. 20:06 IST