Distinguish between tech provider, foreign investor: CAIT
   Date :05-Sep-2019

 
In a communication to Piyush Goyal, Union Commerce and Industry Minister, the Confederation of All India Traders (CAIT) has urged Government to distinguish between technology provider V/s foreign investor. B C Bhartia, National President and Praveen Khandelwal, Secretary General in the communication said, the concept of providing technology is well accepted. However, the issue of deriving foreign investment in Indian companies owing the technology platform needs to be looked into so as to block any loophole which may provide an advantageous position to global retailers to control and dominate the retail trade at a later stage through on-line retail portals who are currently making all efforts to generate more and more visitors on their respective portals.
 
There is a need to check the business modalities of the on-line retailers in cases where they receive financial funding in their portals from overseas and selling commodities in retail on their own portal in a different business entity.
Having considered all above facts, it is most essential that e- commerce business in India should be made transparent, regulated and making it clean by removing all kinds of unfair practices and element of dominance. Like off-line trade, it should also be subject to check and balances by the Government.