CAIT ASSURES PRABHU FOR SUPPORT ON FDI IN E COMMERCE ISSUE
HOPED GOVERNMENT WILL NOT BOW DOWN UNDER ANY PRESSURE
” 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 and to bring 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”- said the Confederation of All India Traders (CAIT) in a communication sent today to Union Commerce Minister Shri Suresh Prabhu.
The CAIT has said categorically 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.
CAIT National President Mr. B.C.Bhartia & Secretary General Mr. Praveen Khandelwal in communication to Mr. Prabhu said that various media reports states that several US based Forums and Chambers have criticised Indian Government for clarifying the issue and attempting to maintain some kind of pressure on the Government to bring changes in the already clarified policy. It appears that it is nothing but the pressure tactics of few big global e commerce players which are using these Forums and Chambers as their mouthpiece with a view to bring further changes to their advantage. It is noteworthy to mention that their business methodology and ultimate aim to capture, control and dominate Indian retail trade through e commerce has been greatly shattered with announcement of clarifications by the Government and therefore now they are bent upon in using all methods of pressure and coercion.
The trade leaders said that in furtherance of the intention of the Government, it is more necessary that the policy is strictly implemented in its true letter and spirit and for this purpose an Independent Regulatory Authority for E Commerce should be constituted 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. They have further demanded that E Commerce Policy which is long awaited should be framed and declared immediately without taking much time.
Both Mr. Bhartia & Mr. Khandelwal also demanded that FDI norms as spelled out in the policy 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.