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  • Traders Suspect Modi Govt Soft on MNCs in E-commerce FDI Policy; Gear Up for Nation-Wide Protest

    Published on January 30, 2019

    New Delhi (PNI News):  “We are a 70 million-strong community.  We are source for earning for over 450 million people across the country.  We know how to use our strength in democratic system.” This is nothing short of a warning from an agitated Traders Community, represented by CAT.

    The Confederation of All India Traders (CAIT) has been demanding the Modi-led NDA government at the Centre to clear its stand on the entry of multi-national e-commerce giants to the country and implementation of the FDI policy in e-commerce from 1st February, 2019. “But till now we were not given any response. We wait for more,” said a senior CAIT functionary,

    Today through a communication to the Union Commerce Minister CAIT has urged the government to implement the FDI policy without flouting the deadline. “We have warned the Government not to buckle under pressure from vested groups. We want FDI policy in e commerce to be implemented from February 1, 2019.  If the deadline is not honored traders, both offline and online, will be compelled to resort to a nationwide campaign which may also have political repercussions.”

    The CITA Secretary General Praveen Khandelwal said, “it is a matter between 7 crore small traders vs a few big Multi-National giants and some Corporate Houses within the country. We will keenly watch the stand of the Government (action to implement FDI).”

    Khandelwal suspected certain lobbies working against the proposed implementation of the FDI policy by presenting misleading and irrational arguments. “They say implementation of the Policy will result in disruption of their consumer base and secondly they have still to understand the policy and they need more time to reorganise their business modal according to norms of the policy. These manufactured excuses to torpedo the (FDI) policy. We hope the government is intelligent enough to understand their (MNC lobby) designs.)

    Suspecting “some hidden motives (of certain groups)” in trying to stall implementation the Traders’ Body has demanded “a detailed probe into the transactions made in past two years by these e commerce players”.  The CAIT has also demanded, in its letter to the Government, “a Regulatory Authority. We also demand the restrictions imposed on FDI in e commerce should also be made applicable to domestic e-commerce players to ensure a level playing field for all.”