CAIT seeks strong action against violators of FDI norms

Traders' body Confederation of All India Traders (CAIT) has sought strong action against a few e-commerce firms for violating FDI policies. The body has also requested the government to set up of an empowered regulatory authority to regulate and monitor the e-commerce business in India.

In its letter to the Prime Minister Narendra Modi, CAIT accused big e-commerce companies of monopolizing the e-commerce business and retail trade of India with their malpractices and violating FDI policy of the government and relevant laws and rules. It further said that these companies have failed to take any concrete actions despite several complaints against them which has made it difficult for small businesses to conduct online business activities". The traders' body claimed that government authorities too have failed to protect the sanctity of the policy and law of the government. Hence, it has urged for a strong action against these e-commerce companies. CAIT also requested the government to announce an e-commerce policy immediately with an explicit provision of empowered regulatory authority.