The Confederation of All India Traders (CAIT) on Friday strongly criticised a US based lobby group USIBC expressing concerns over new draft rules for e-commerce under Consumer Protection Act.
The uncalled for intervention of USIBC shows utter desperation of Amazon and Walmart the US companies which are part of this lobby group, as they have understood that their sinister game of controlling and dominating e-commerce and retail trade of India will soon be over. They are trying to block initiative for implementation of draft rules. The Department for Promotion of Industry and Internal Trade (DPIIT) for bringing a new.
However, the 80 million strong business community of India will ensure that such much awaited reforms in e-commerce landscape should take place as soon as possible.
B C Bhartia, CAIT National President and Praveen Khandelwal, Secretary General jointly said that it would have been appreciated if USIBC could have advised companies like Amazon and Flipkart to follow and comply Indian laws instead of indulging in their brazen violations. Sermons are effective when it is given in an impartial manner.
Both the trade leaders Bhartia and Khandelwal said that without knowing the true facts and under pressure of Amazon, Walmart and others, the USIBC’s intervention is unwarranted which runs against the interest of the 80 million traders of India.
Bhartia and Khandelwal both said that at a time when a recent judgement of the Delhi High Court has found Amazon guilty for violation of Foreign Direct Investment (FDI) policy and Foreign Exchange Management Act (FEMA) and a double bench of Karnataka High Court dismissing the petition of Amazon and Flipkart. The intervention of USIBC shows both Amazon and Walmart are trying every route to stall the draft rules for e- commerce.
Bhartia and Khandelwal in a joint statement said, “Such a hue and cry is not understandable. Government is not bringing any new law or policy. It is just trying to include do’s and don’t of the rules. The scaling or growth in business has to be within the purview and parameters as defined in the policy or the law. Why any entity should worry when the Government is clarifying the policy.”
Bhartia and Khandelwal jointly said that USIBC is mistaken in terming the business of these companies as an investment in India. The capital which these companies are using is meant to operate their business activities whose return in shape of revenue is accrued by these companies as their profit.
Therefore, terming such capital as investment is factually wrong. They are using this so called investment as burning of capital to support their unethical business practices and also to violate the Foreign Direct Investment policy of the Government and the Foreign Exchange Management Act ( FEMA), both the trade leaders