Prabhu assures national policy for retail trade: CAIT
31 Dec 2017 10:13 PM IST
New Delhi: Commerce Minister Suresh Prabhu has assured to formulate a national policy for retail trade to bring all verticals, including small business, big retail, e- commerce and direct selling under it, said industry body CAIT.
"On demand of CAIT (Confederation of All India Traders) to formulate a national policy for retail trade, the Commerce Minister Suresh Prabhu appreciated the suggestion and agreed to formulate a policy having all verticals of retail trade i.e. Small Business, Big Retail, E-Commerce and Direct Selling under one umbrella of retail trade policy," it said in a statement.
In a meeting held between Prabhu & a CAIT delegation led by its Secretary General Praveen Khandelwal, the industry body lodged its strong complaint against e-commerce platforms for indulging in deep discounting and loss funding, thereby violating FDI Policy 2016 of the Centre, it said.
Confederation of All India Traders said that the unfair practices being adopted by such e-commerce platforms, claiming to be a marketplace, are conducting sales to direct consumers instead of making Business-to-Business (B2B) sales.
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