Traders' body CAIT on Sunday wrote to Prime Minister Narendra Modi looking for a "strong action" against e-commerce firms for alleged violation of FDI policy by the ecommerce companies. It also sought mentions of setting up an empowered regulatory authority to regulate and monitor the e-commerce business in India.
CAIT, the Confederation of All India Traders (CAIT) in the letter to the Prime Minister said that, "big e-commerce companies having deep pockets are leaving no stone unturned in monopolising the e-commerce business and retail trade of India with their malpractices and violating FDI policy of the government and relevant laws and rules". CAIT expressing its worry, saying no action has been taken against them though several complaints were against them. The situation has become a major hindrance for small businesses to conduct online business activities".
"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. CAIT urges strong action against ecommerce companies and requested to frame an e-commerce policy with an explicit provision of empowered regulatory authority.
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