Thursday, April 22, 2021
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

E-commerce companies violating FDI policy, need empowered regulatory authority, claims CAIT

Jaleel M. by Jaleel M.
November 29, 2020
in Business
0
E-commerce companies violating FDI policy, need empowered regulatory authority, claims CAIT
0
SHARES
6
VIEWS
Share on FacebookShare on Twitter


CAIT also claimed that various government authorities, despite being custodians of the law, have ‘failed to protect the sanctity of the policy and law of the government’

Related posts

Sensex tumbles over 500 points in early trade; index majors HDFC Bank, HUL track losses-Business News , Firstpost”

Sensex tumbles over 500 points in early trade; index majors HDFC Bank, HUL track losses-Business News , Firstpost”

April 22, 2021
Net profit rises 14.9% to ₹9,246 crore; revenue at ₹43,705 crore-Business News , Firstpost”

Net profit rises 14.9% to ₹9,246 crore; revenue at ₹43,705 crore-Business News , Firstpost”

April 21, 2021

E-commerce companies violating FDI policy, need empowered regulatory authority, claims CAIT

Representational image. News18 Hindi

On Sunday, the Confederation of All India Traders (CAIT) penned a letter to Prime Minister Narendra Modi asking for “strong action” against e-commerce firms allegedly violating foreign direct investment (FDI) policy.

The traders’ body also sought the setting up of an empowered regulatory authority to “monitor the e-commerce business in India”.

Ecommerce companies violating FDI policy need empowered regulatory authority claims CAIT

CAIT’s letter to Prime Minister Narendra Modi.

“… we are pained to inform you that big e-commerce companies having deep pockets are leaving no stone unturned in monopolising the e-commerce business and retail trade of India with their malpractices and violating FDI policy of the government and relevant laws and rules,” CAIT, in the letter to the prime minister, alleged.

“Despite making several complaints against them, so far no concrete action has been taken and therefore it has become a major roadblock for small businesses to conduct online business activities,” the letter further stated.

CAIT also claimed that various government authorities, despite being custodians of the law, have “failed to protect the sanctity of the policy and law of the government.”

“Though the Ministry of Commerce has taken some initiatives to impress upon them to conduct their business activities under the purview of the law but these e-commerce companies have been avoiding the law on one pretext or the other,” CAIT further stated in the letter.

The traders’ body has for long been at loggerheads with Amazon and Flipkart, claiming that small retailers have been suffering at the hands of the e-commerce majors and seen their business decline.

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.



Source link

Previous Post

Foreign portfolio investors remain net buyers in November, invest record Rs 60,358 crore in equities

Next Post

Stop banks from offering cashbacks on online purchases, CAIT demands in letter to Nirmala Sitharaman

Next Post
Stop banks from offering cashbacks on online purchases, CAIT demands in letter to Nirmala Sitharaman

Stop banks from offering cashbacks on online purchases, CAIT demands in letter to Nirmala Sitharaman

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

World Test Championship Final In 2021 Depends On Rescheduling Of Pending Series, Says ICC GM Geoff Allardice 

World Test Championship Final In 2021 Depends On Rescheduling Of Pending Series, Says ICC GM Geoff Allardice 

9 months ago
Kemar Roach Warns Barbados-Born Jofra Archer Not To Expect Warm Welcome From West Indies Players

Kemar Roach Warns Barbados-Born Jofra Archer Not To Expect Warm Welcome From West Indies Players

10 months ago
VIDEO AGE RELEASE NEW FUN-FUELED SONG AND VIDEO “AEROSTAR”

VIDEO AGE RELEASE NEW FUN-FUELED SONG AND VIDEO “AEROSTAR”

10 months ago
Boycott-China calls spread in India following deadly clashes, South Asia News & Top Stories

Boycott-China calls spread in India following deadly clashes, South Asia News & Top Stories

10 months ago

FOLLOW US

  • 85 Followers
  • 29.5k Followers
  • 113k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • KRISTIN LASH & JAKOB GREY Team Up On “Sleeping With The Lights On”

    0 shares
    Share 0 Tweet 0
  • SEVENTEEN REVEALS PROMOTION SCHEDULE FOR ; SEMICOLON

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy