CAIT composes to Suresh Prabhu over plans to change draft e-commerce policy

the letter.Traders’ body CAIT Wednesday described the government’s reported relocate to drop the draft of e-commerce policy as a regressive action, and has written to commerce minister Suresh Prabhu registering its protest. The Confederation of All India Traders (CAIT) said that the nation’s e-commerce market has actually substantially grown in size and scale which needs a codified policy and a regulative authority to regulate and keep an eye on the market.The objection has been raised after reports that the government has actually decided to drop the draft of e-commerce policy that proposed allowing 49 percent FDI in inventory model, and established a committee of secretaries to choose a new set of recommendations.The traders’body said that the policy is already postponed for more than three years and if dropped, it will be a blow to the reasonable trade practices in e-commerce and will provide every chance to e-commerce portals to continue with predatory rates, deep discounting and loss funding, developing an irregular level playing field.”If the policy is shelved, it will indicate that the federal government is catching

the pressure of MNCs and online companies who want the e-commerce market to stay a freeplay ground,” it said in the letter.As per a report by marketing research study firm eMarketer, the e-commerce sales will rise about 31 per cent to USD 32.7 billion in 2018 and the e-commerce market in India is anticipated to grow to USD 200 billion by 2026, largely due to increasing Internet and mobile phone penetration. In lack of any policy to control such a large landscape with prospective, gamers will be free to set their own guidelines and play the video game according to their vested success, it said.