Fundamentals of draft e-commerce policy shouldn’t be watered down: CAIT to Suresh Prabhu

Minister Suresh Prabhu and demanded that basic basics of the e-commerce policy draft need to not be watered down and it should involve constraints on discount rates and freebies offered by e-commerce platforms.In the letter to Prabhu, the Confederation of All India Traders(CAIT)likewise suggested that e-commerce companies need to be noted with a stock market” as it will stop their capability to keep making sustained losses by adopting indiscriminate discounting which is harming the small traders “. CAIT Secretary General Praveen Khandelwal declared that the discounts moneyed and funded by these e-commerce platforms are the biggest weapons utilized by them to acquire market share.”This is absolutely nothing however timeless predatory pricing and as such the policy should include limitations on using discounts and freebie,”he said.Khandelwal declared that these platforms are blatantly violating the conditions imposed by Press Note 3 under FEMA and RBI, ED and other enforcement agencies are looking other way most likely under some sort of impact which is obvious from that in past years lots of grievances have actually been made straight and likewise forwarded by Commerce Ministry but so far no investigation has actually been carried out and the problem is being dealt in a casual manner.”Though the present Competitors Law has suitable provisions for dealing with Predatory Prices, nevertheless, it appears that Commission is not acting in its right spirit and no

chance of hearing has actually been offered to objections submitted by us and orders have actually been gone by the Commission giving green signal to Walmart-< a href= http://www.financialexpress.com/tag/flipkart/ target=_ blank > Flipkart offer,”he said.CAIT has actually recommended that holding stock clause in the policy proposition should be withdrawn, claiming that the policy has arrangement for inventory holding in particular cases which is nothing however back-door entry of FDI in

Retail.Khandelwal said that there is a dire requirement of a regulator to keep an eye on e-commerce platforms”We recommend that the stated Regulator might be armed with powers to take penal action against the platforms which breach the policy, Rules or Laws,”CAIT said.It is also recommended that a reliable Complaint Online forum must also be made up to hear the grievances of the consumers and a Customer service ought to also be begun for easy access to customers in case of any complaints versus any e-commerce platform.