Amid media reports that Amazon chief Jeff Bezos is coming to India in January to meet Prime Minister Modi, The Confederation of All India Traders ( CAIT) in a communication sent to the Prime Minister Narendra Modi has urged that prior to meeting Amazon chief Jeff Bezos in January in India, the Prime Minister must also understand the view point and concerns of traders of the country and for that purpose, the CAIT has sought an audience with Prime Minister Narendra Modi.
In a communication to the Prime Minister Modi. CAIT national president BC Bhartia general secretary Praveen Khandelwal said that the current e Commerce mar ket of the country is high y vitiated by unhealthy and unfair practices of e commerce companies particularly Amazon and Flipkart. These companies are constantly violating FDI policy of the government both in letter and spirit.
The CAIT has said that selling goods at a much lower price than the market price, they are causing huge GST revenue loss to the government. Further by registering huge losses every year these companies are escaping income tax obligations as well. By indulging into predatory pricing and deep dish counting, these companies have created a gross uneven level playing field which is another violation of FDI policy Bhartia and Khandelwal said that CAIT is of the considered view that e- commerce is a future mode of business and as such CAFT has already started a nationwide campaing from September 1 to connect 7 crore traders with e-commerce business by creating e-stores of every individual trader.
Therefore, CAIT is in favour of e-commerce; but companies like Amazon and Flipkart need to comply with FDI policy of the government la letter and spirit and also need to compulsoryly comply with tax and other laws without any attempt to adopt any mechanism to avoid the obligations of policy and the law CAIT has submitted that either both Amazon Flipkart should be sternly asked to comply with the FDI policy or leave Indian market, said Bhartia and Khandelwal.
The CAT has appreciated concerns and various steps taken by the Prime Minister to frame and enforce policies for protection and growth of domestic trade and small industries from time to time. Non-signing of RCEP simplification of GST tax structure, formation of National Traders Welfare Board, pension to traders and other issues have reposed more confidence among Crore traders of the country.