Traders’ body welcomes changes to FDI policy for e-commerce

Traders’ union Confederation of All India Traders (CAIT) welcomed the recent changes brought to Foreign Direct Investment (FDI) in e-commerce in a letter to the Commerce Ministry, Suresh Prabhu said on Monday.

“The business community of the country stands in solidarity with the Union Government on issue of changes made in FDI policy in e commerce for bringing transparency, even level playing field and fair competition and to bring an end to era of unethical business practices of exclusivity, predatory pricing, deep discounting and loss funding being constantly adopted by global e commerce players,” the letter read.

The traders’ body, in a statement, said it hoped that the policy would be strictly implemented and called for setting up of an independent regulator to this end.

It also said that it would oppose any further changes to the FDI policy that might be to the advantage of global players.

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