: CAIT lodges protest to DPIIT on ecommerce major pushing their views as office bearers of Chamber #FinanceIndia #StockMarketNEWS CAIT lodges protest to DPIIT on e-commerce major pushing their views

@StockMarketNEWS Mon 22 Mar, 2021

Posted in: #FinanceIndia #StockMarketNEWS

CAIT lodges protest to DPIIT on ecommerce major pushing their views as office bearers of Chamber #FinanceIndia #StockMarketNEWS
CAIT lodges protest to DPIIT on e-commerce major pushing their views as office bearers of Chamber New Delhi, Mar 22 (KNN) The Confederation of All India Traders (CAIT) has raised strong objections to the DPIIT meeting India-based representatives from e-commerce majors under the banner of industry chambers.

It is perfectly fine, for DPIIT to meet any of these executives under their own company’s banner, but deeply problematic for them to be allowed to pass off their machinations under the holy banners of CII, NASSCOM, Assocham, PhDCCI, NASSCOM, FICCI, etc., CAIT said on Sunday.

CAIT National President B C Bhartia & Secretary General Praveen Khandelwal also said that DPIIT meeting India-based representatives from Amazon, Flipkart percolated under the cover of respected apex chambers of commerce and industry, is akin to falling for wolves in sheeps clothing.

It also demanded the government to plug all loopholes in press note 2 of the foreign direct investment (FDI) policy.

Khandelwal announced that more than 40,000 trade associations across the country will observe March 25 as E-commerce Democracy Day and on March 28, traders will burn Holi of Amazon & Flipkart at over 1,000 places to register their anger and resentment against these foreign funded e-commerce companies controlling, monopolising and dominating not only e-commerce through subterfuge entities like Cloudtail.

CAIT also announced to expose illegal and unauthorised cartel of E-commerce companies, Brand-owing companies and Banks which are working hand-in-glove to cause further damage to business of traders in the country.

These entities have come on a common platform and joint in the hip in flouting Indian law and rules, it added.

A comprehensive memorandum will be handed over to about 700 District Collectors in the Country on 25th March exposing this unethical cartel of Banks, Brand owning companies & e-commerce companies, it said.

The Confederation of All India Traders (CAIT) has raised strong objections to the DPIIT meeting India-based representatives from e-commerce majors under the banner of industry chambers.