The Confederation of All India Merchants (CAIT) stated it has additionally despatched a letter to Union Commerce Minister Suresh Prabhu Thursday alleging “that the e-commerce enterprise in India is very vitiated and has been gripped by a couple of massive on-line firms who’re indulging into predatory pricing, deep discounting and loss funding” towards the FDI pointers of the federal government.
The commerce and business ministry notifies FDI insurance policies by means of press notes. Press Observe 3, which was launched in 2016, enlists pointers for overseas direct funding in e-commerce sector.
“The federal government in affiliation with commerce associations ought to launch an e-commerce market portal the place small merchants, artisans, girls entrepreneur and others can promote their merchandise in a good & clear method,” CAIT stated to Prabhu.
Within the letter to Prabhu, the merchants’ physique additionally demanded early announcement of an e-commerce coverage and formation of a Regulatory Authority to watch the e-commerce enterprise in India.