CAIT welcomes non-extension of FDI policy in e-commerce

Ludhiana, January 31, 2019: The Confederation of All India Traders (CAIT) has expressed deep satisfaction over non- extension of deadline date for implementation of FDI policy in e-commerce and said that it is strong step to clean the greatly vitiated e commerce market of the country. The CAIT has complimented Prime Minister Narendra Modi and Commerce Minister Suresh Prabhu for taking such a bold step. CAIT National President B.C.Bhartia and Secretary General Praveen Khandelwal while welcoming the move said that post-Independence it is for the first time when the voice of small traders has been heard and acted upon by any government despite strong and hard lobbying the vested interest e-commerce players and US Government. It amply testify that our policies are sovereign and deserve no advise or pressure from any quarter. Bhartia and Khandelwal further said that this is not enough but the policy needs to be implemented strictly in its letter and spirit and for this a Regulatory Authority should be formed as early as possible to regulate and monitor the e commerce business of India and much awaited e-commerce policy should be formulated and announced. Both trade leaders demanded that a Special Investigation Team should be constituted to investigate business modal of major e commerce players made in past two years and the restriction stipulated in policy should be implemented on domestic players as well. The statement was released to the local press by Harkesh Mittal (president Punjab) and RS Tarzan secretary Punjab) of Confederation of All India Traders (CAIT).