The persistent malpractices of Amazon & Flipkart indulging in several unfair trade practices to distort and vitiate India’s e-commerce space have drawn unprecedented ire and disgust from 8 crore Indian traders led by the Confederation of All India Traders ( CAIT) at the National Governing Council meeting of CAIT represented by more than 200 trade leaders from all corners of India.
Amazon and Flipkart have left no stone unturned in blatantly violating and openly circumventing the FDI policy of the country to completely destroy the ecosystem of Indian ecommerce space thereby affecting the overall retail scenario of India, said Mr Praveen Khandelwal, National Secretary General, CAIT. Mr BC Bhartia, National President CAIT added that by adopting such predatory tactics like deep discounting, loss funding, inventory control, preferential seller treatment and selling their own brands through their alpha sellers, Amazon and Flipkart have made their intentions clear that there is no place for ethics and there is absolutely no respect for the law of the land when it comes to attain their selfish ulterior motives of controlling and dominating not only e commerce but retail trade as well.
However both leaders appreciated the Union Government and acknowledged the fact that Commerce Minister Piyush Goyal has taken due cognisance of the matter and through a much anticipated Press Note 3 of the FDI Policy, assured to remove the anomalies in the law which will leave no scope of circumvention by law violators Amazon and Flipkart. This will bring much relief to the 8 crore Indian traders who are currently extremely infuriated with Amazon & Flipkart’s business practices.
Bhartia & Khandelwal said that traders of the country who do not fear any healthy competition have now had enough with this long drawn ordeal against these multinational eCommerce companies who have illegally entered India and unceremoniously through their strong financial muscle shaken the foundation of Indian retail. The limit of toleration has been reached and now it is very difficult to control the anger of Indian traders who may take a strong step in the near future to throw out these companies from India if they do not mend their ways and adopt ethical business practices. “ The entire trading community of the country is now firmly affirmed that “ we will not allow any e-commerce entity to continue with their malpractices. Their time is over now “- said Bhartia & Khandelwal.