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Home > Business > CAIT writes to Prabhu over plans to change draft e-comm policy

CAIT writes to Prabhu over plans to change draft e-comm policy

Afternoon Voice by Afternoon Voice
September 19, 2018
0

Traders’ body CAIT Wednesday termed the government’s reported move to drop the draft of e-commerce policy as a regressive step, and has written to commerce minister Suresh Prabhu registering its protest.

The Confederation of All India Traders (CAIT) said that the country’s e-commerce market has considerably grown in size and scale which needs a codified policy and a regulatory authority to regulate and monitor the market.

The objection has been raised after reports that the government has decided to drop the draft of e-commerce policy that proposed allowing 49 per cent FDI in inventory model, and set up a committee of secretaries to decide on a new set of recommendations.

The traders’ body said that the policy is already delayed for more than three years and if dropped, it will be a blow to the fair trade practices in e-commerce and will give every opportunity to e-commerce portals to continue with predatory pricing, deep discounting and loss funding, creating an uneven level playing field.

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“If the policy is shelved, it will imply that the government is succumbing to the pressure of MNCs and online companies who want the e-commerce market to remain a freeplay ground,” it said in the letter.

As per a report by marketing research 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 expected to grow to USD 200 billion by 2026, largely due to increasing Internet and smartphone penetration.

In absence of any policy to regulate such a vast landscape with potential, players will be free to set their own rules and play the game according to their vested profitability, it said.

Tags: CAITConfederation of All India TradersSuresh Prabhu
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