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    Nagpur City No 1 eNewspaper : Nagpur Today

    | | Contact: 8407908145 |
    Published On : Fri, Nov 22nd, 2019
    Business News | By Nagpur Today Nagpur News

    CAIT seek audience with PM beofre his meeting with amazon chief JEFF Bejos

    Amid media reports that Amazon Chief Jeff Bejos is coming to India in January to meet Prime Minister Shri Modi, the Confederation of All India Traders ( CAIT) today in a communication sent to him has urged that prior to meeting Jeff Bejos, 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 Shri Narendra Modi.

    In communication of Prime Minister Shri Modi, CAIT National President Mr B C Bhartia & Secretary General Praveen Khandelwal said that the current e commerce market of the Country is highly vitiated by unhealthy & unfair practices of e commer companies particularly Amazon & Flipkart. These companies are constantly violating FDI policy of the Government both in letter & spirit.

    The CAIT has said that selling goods at a much lower price than the market value, 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 discounting , these companies have created a gross uneven level playing field which is another violation of FDI policy.

    Both Mr Bhartia & Mr Khandelwal said that CAIT is of the considered view that e commerce is a future mode of business and as such CAIT has already started a nationwide campaign from 1st September,2019 to connect 7 cr traders with e commerce business by creating e stores of every individual trader.

    Therefore, we are much in favour of e commerce but companies like Amazon & Flipkart needs to comply with FDI policy of the Government in letter and spirit and also need to compulsory 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 ask to comply with the FDI policy or leave from India. – said Mr Bhartia & Mr. Khandelwal

    The CAIT has appreciated concerns and various steps taken by the Prime Ministe to frame & enforce policies for protection & growth of domestic trade & small industries from time to time. . Non signing of RCEP, simplification of GST tax structure, formation of National Traders Welfare Board, Pension to Traders & other issues which has reposed more confidence among 7 crore traders of the Country.

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