Top retailers accuse online platforms of flouting the rules

Must Read

Leading retailers, Future Group, Aditya Birla Retail and Shoppers’ Stop have requested the Government to strictly enforce norms for online marketplaces. They are also prepared to take a legal action if these platforms repeatedly flout the rules.

“We have sent a representation to the Government asking for further clarifications so that there is no violation in implementation of the policy. We are prepared to approach the courts once again in the next few weeks if the norms are not strictly implemented,” Chairman of Retailers’ Association of India (RAI), B S Nagesh was quoted by PTI as saying.

The retailer’s association is waiting for the Enforcement Directorate (ED) reports which will be out in next four weeks. It will decide whether the e-tailers have been evading India’s Foreign Direct Investment (FDI) rules by deploying the overseas funds.

“All the hullabaloo about FDI in retail came in the grocery business. It should not be run with foreign money. Even after the rules have come inventory model is still being practised…. According to the definition, these companies are flouting the rules,” CEO of Future Group, Kishor Biyani was quoted by PTI as saying.

The Delhi High Court had issued an order to the ED last year in November to carry out a formal inquiry about the working process of the e-commerce companies. It was done after the hearing of a case by footwear traders, that India bars overseas capital in this sector.

Retailers have also demanded a clarification about the cost part of products . They also want detailed instructions regarding the rule that no seller will have more than 25 per cent share on the marketplace.

spot_img
Latest News

Retail: What the industry says about Budget 2023

Reactions from industry captains on announcements in the current Budget that will have a bearing on retail businesses New Delhi: Union...

More Articles Like This