Traders' body CAIT Sunday said it has written to Prime Minister Narendra Modi highlighting the need for an e-commerce policy, incentives for digital payments, national policy for retail trade, besides other issues.
Traders’ body CAIT Sunday said it has written to Prime Minister Narendra Modi highlighting the need for an e-commerce policy, incentives for digital payments, national policy for retail trade, besides other issues. In a communication sent to the Prime Minister, the Confederation of All India Traders (CAIT) has demanded complete overhauling of the country’s retail trade. In the letter, CAIT Secretary General Praveen Khandelwal alleged that the current e commerce is greatly vitiated by online companies by indulging into predatory pricing, deep discounting and loss funding, thereby creating an uneven level playing field and influencing the pricing which is against FDI Policy 2016 Press Note No. 3 of the Government.
“Therefore, there is an urgent need of an e-commerce policy by the government and formation of a Regulatory Authority to monitor and regulate e commerce business in the Country and to create a level playing field,” Khandelwal said. Besides, CAIT said bank charges should not be levied either on traders or on consumers and should be directly subsidised by the government to banks. It said relaxation in taxes should be given to traders who conduct their maximum business through digital transactions.
A Digital Payments Promotion Board may also be set up with all stakeholders to ensure that more and more people should use digital payments in order to make India, a less cash nation, CAIT said. Khandelwal further urged that on the pattern of UP, traders registered with GST should be given an Accidental Insurance of Rs 10 lakh by the Government. He said a special policy should also be formulated to provide compensation to traders affected by natural calamity.