CAIT will launch a nationwide movement demanding the Government to form a Regulator and Laws and Rules to govern e-commerce business in India. Unrealistic prices, unfair competition, unhealthy business practices, predatory pricing have damaged the business of offline market to the tune of 35% in various segments. To this extent, a nationwide Dharna will be held on 1st November, 2014 to attract attention of the Government-declared CAIT.
"The e commerce business in India is like an open play ground where every player is free to play game as per its own whims and wishes and setting its own Rules and Regulations, mo matter how detrimental it could be either for the economy or for rest of the stakeholders," said Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT). He was speaking at a meeting of the National Governing Council of CAIT held at New Delhi especially convened to discuss current scenario of e retail business and its fall out on offline market. The meeting was attended by prominent trade leaders of 22 States and chaired by CAIT National President B. C. Bhartia.
Foreign Funding in e-retail is nothing less than FDI in multibrand retail and since the Government is committed not to allow FDI in mult-brand retail, there is an urgent need to block any loopholes in e-retail business which may give opportunity to MNCs to enter into retail trade of India as a backdoor entry via e retail business. Beside traders, the CAIT will also rope in other sections of non corporate sector including SMEs, Farmers, Transporters, Truck Operators, Hawkers, Labour Union, Cooperative Groups, Self Entrepreneurs and others in its nationwide movement.
In a unanimous resolution adopted at the meeting, the trade leaders demanded the Union Government to immediately intervene in the matter and necessary reformative steps should be taken by the Government to make this format of retailing a clean business free from all sorts of mala fide policies and to ensure operations of bona fide business. Besides demanding investigation into business module of e retailers and regulatory authority for e commerce business in India, the CAIT has also demanded the Government to investigate the funding generation of e retail players.
