Sunday, June 13, 2021
HomeBusinessGovt asks CAIT to list issues hampering ease of doing biz

Govt asks CAIT to list issues hampering ease of doing biz

The Commerce Ministry on Tuesday asked traders body CAIT to prepare a list of issues, including taxation and banking, which are hindering ease of doing business in the country.

Govt asks CAIT-AV - Copy
Addressing members of the Confederation of All India Traders (CAIT), DIPP Secretary Ramesh Abhishek said the traders body should prepare a list of issues and give it to the department within two weeks.

“We would take all those issues with the concerned departments and also with the state governments,” he said, adding that the government is already taking steps to improve ease of doing business in the country.

On the e-commerce sector, he said the Department of Industrial Policy and Promotion (DIPP) has issued guidelines and if there are any issues, traders should approach the Directorate of Enforcement as the department only formulates policies.

The remark assumes significance against the backdrop of CAIT alleging that e-commerce companies have violated foreign direct investment norms.

When asked about the relaxation of FDI norms in the single-brand retail sector, he said the norms are applicable for all companies and foreign firms that want to avail those benefits would have to come through the process.

Speaking at the occasion, NITI Aayog CEO Amitabh Kant said small traders play an important role in boosting the economy and the government would always support them as they contribute hugely in job creation.

He further said the e-commerce sector is growing at faster pace in India and its market size is about USD 20 billion but “by 2023-24, it would touch USD 350 billion”.

Citing example of China-based Alibaba, Kant suggested adoption of new technologies to grow further.

“India is the only country where we have billion mobiles… Old companies got disrupted because they did not adopt new technologies. Adopt new technologies,” Kant said.

“Trading community should grow by adopting technology and e-commerce and beat Flipkart and Snapdeal. When you will give competition, you will grow,” he said adding FDI would help in attracting new technologies.

He further said India needs to grow at 10 percent for years to eliminate poverty.

Speaking at the event, MasterCard’s Porush Singh said: “Since 2014, we have invested Rs 2,700 crore in India and in the next four years, we plan to double that.”

Last year, CAIT had launched a portal ‘e-lala’ for its members to compete with e-commerce players. MasterCard has partnered the portal to provide digital payment solutions.

Most Popular

- Advertisment -