The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • Nagpur City
  • Politics
  • Business
  • Nagpur Education
  • Entertainment
  • Nagpur Sports
  • Health
  • Vidarbha
  • Crime
  • Obituary
Business

CAIT knock doors of competition commission today on amazon & flipkart issue

by TLN Team October 18, 2019October 18, 2019
written by TLN Team October 18, 2019October 18, 2019
CAIT knock doors of competition commission today on amazon & flipkart issue

The way Union Minister for Commerce Shri Piyush Goyal has clarified the government’s stance on the country’s e-commerce trade at a press conference in Mumbai yesterday has been appreciated by traders across the country. In furtherance of the same, the CAIT said that the government should now take immediate action against Amazon and Flipkart, given the firmness that Mr. Goyal has emphasized on strict observance of FDI policy and has announced strict action against those not following it.

National President of CAIT Mr. BC Bhartia and Secretary General Mr. Praveen Khandelwal said that Mr. Goyal’s statement has come at a time when the offline business of the country is badly plagued by the unethical business model of these two companies since they are indulging in predatory pricing, giving huge discounts and compensating the losses to their sellers. The CAIT has already submitted the evidences of its charges  to Mr. Goyal and the officials of the Ministry and in pursuance of the same now CAIT has demanded that Mr. Goyal should take immediate action on online companies,  as per his firm statement.

Mr. Bhartia and Mr. Khandelwal have said that due to unethical commercial practices of Amazon and Flipkart around 40 thousand mobile shops are on the verge of closure by Diwali, while FMCG, electronics, electrical, gift items, garments, watches etc have suffered huge losses in offline market, Trade in Mobile sector has fallen to about 60% whereas in other sectors it has registered a decline of 30% to 40% sales. other business sectors such as footwear has fallen by about 30 to 40 percent in the month of October, The CAIT has said that if the government did not take action soon, the retail business of the country will be severely affected and there will be an outcry in the business class across the country.

Meanwhile, a delegation of CAIT reached out to the Competition Commission of India on this issue and in a meeting with the Chairman of the commission Mr. Ashok Kumar Gupta, apprised him as to how , the online companies are trapping the country’s business in the vicious cycle of unethical competition. It is astonishing that these Companies are running into losses of thousands of crores of rupees every year, yet they are continuing with their business model which could be possible only when they are supported by their investors The CAIT has urged for the intervention of the commission in establishing a fair market in the country. In this meeting, the Economic Adviser of the Commission, Mrs. Payal Malik was also present!

Talking to the CAIT delegation, Mr. Ashok Kumar Gupta said that the commission is committed to establishing a uniform and competitive  business environment in the country and if anyone adopts unhealthy trading practices, influencing  prices in any manner and create an uneven level playing field in the market, the Commission will sure take action as per law.  On the documents submitted by CAIT, Shri Gupta ordered the commission officials to study the documents and after that the commission will decide what action should be taken.

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
NMC to deploy 298 buses for upcoming state elections
next post
Chartered Accountants stand for high degree of reliability, integrity, ethical values and financial discipline  –CA Prafulla Chhajed

You may also like

Ranjit Singh new chairman of CII Vidarbha Zone

February 28, 2021

CAIT call Bharat Vyapar Bandh was successful- Bandh...

February 26, 2021

City traders give lukewarm response to CAIT’s ‘Bharat...

February 26, 2021

NVCC supports CAIT demands for Bharat Vyapar Bandh...

February 24, 2021

Bank account, properties to be seized for violation...

February 24, 2021

Institute of Chartered Accountants of India to set...

February 24, 2021

LIC launches digital application-ANANDA

February 22, 2021

“Opportunities to MSME- Initiatives by the National Small...

February 22, 2021

CA’s act as Bridge between Taxpayers and Government...

February 22, 2021

VED Invites interested non-members to its Tourism Meeting

February 22, 2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.



Trending News

  • NSE triples its investment to INR 900 crores in technology infrastructure over last 3-4 years

    February 27, 2021
  • UltraTech’s Awarpur unit donates computers in Zilla Parishad schools

    February 27, 2021
  • Govt extends existing COVID-19 guidelines till Mar 31

    February 26, 2021
  • Ishara’s Paapnaashini Ganga Title Track Pays Tribute to Goddess Ganga in Kailash Kher’s Voice

    February 26, 2021
  • Bhumi Pednekar and UNESCO Join Whisper®’s mission to #KeepGirlsInSchool

    February 26, 2021

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

October 2019
M T W T F S S
« Sep   Nov »
 123456
78910111213
14151617181920
21222324252627
28293031  

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Crime
  • Entertainment & Lifestyle
  • Featured
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Disclaimer
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us
  • Work with us
  • Contact Us

© 2020 - The Live Nagpur . All Rights Reserved.