Take steps to regulate online biz: CAIT to govt
07/10/2014 11:33
Concerned over hefty discounts being offered by e-commerce firms, traders body CAIT has asked the Commerce and Industry Ministry to take steps to monitor and regulate online businesses, said the media report. In a letter to Commerce and Industry Minister Nirmala Sitharaman, National General Secretary of Confederation of All India Traders (CAIT) Praveen Khandelwal has urged for setting up of a regulatory authority for e-commerce business in India. "We invoke your kind and immediate attention to ongoing sale offers conducted by various e-commerce companies since last three days...they are offering discounts from 20 per cent to 70 per cent, whereas traders are forced to sell same products in offline markets at a higher prices since their purchase price is on a very higher side," he said the letter. It is a serious matter as it is badly affecting the offline market. "Such a practice if continued may result into unavailability of products in offline market which will further result into a monopolistic situation which will be controlled and dominated by the e commerce retailers," he added. He said it amounts to predatory pricing and the government should take necessary steps to control this.
07/10/2014 11:33
Concerned over hefty discounts being offered by e-commerce firms, traders body CAIT has asked the Commerce and Industry Ministry to take steps to monitor and regulate online businesses, said the media report. In a letter to Commerce and Industry Minister Nirmala Sitharaman, National General Secretary of Confederation of All India Traders (CAIT) Praveen Khandelwal has urged for setting up of a regulatory authority for e-commerce business in India. "We invoke your kind and immediate attention to ongoing sale offers conducted by various e-commerce companies since last three days...they are offering discounts from 20 per cent to 70 per cent, whereas traders are forced to sell same products in offline markets at a higher prices since their purchase price is on a very higher side," he said the letter. It is a serious matter as it is badly affecting the offline market. "Such a practice if continued may result into unavailability of products in offline market which will further result into a monopolistic situation which will be controlled and dominated by the e commerce retailers," he added. He said it amounts to predatory pricing and the government should take necessary steps to control this.
