The Confederation of All India Traders (CAIT) said in a statement that its delegation held a meeting late on Thursday with Indian Commerce Minister Piyush Goyal, who told them a “strenuous exercise” was underway to issue new foreign investment rules.
“Mr. Goyal told us the government will address concerns about alleged violations of current rules. The new rules will be issued shortly,” Praveen Khandelwal, secretary general of CAIT told news agency Reuters.
Last week, in a letter sent to Commerce Minister Piyush Goyal CAIT accused Amazon, Flipkart, Zomato, Swiggy, and other entities of violation of mandatory display of Country of Origin, manufacturer, and seller details on products sold through their respective platforms under Consumers Protection (E-Commerce) Rules, 2020, Legal Metrology (Packaged Commodities) Rules, 2011 and guidelines of Food Safety & Standards Authority of India (FSSAI). The traders’ body said that government needs to take “immediate action against e-commerce entities including Amazon, Flipkart, Zomato, Swiggy, and others.”
“It is a case of daylight robbery of e-commerce entities in India and, therefore demands immediate action against the erring e-commerce portals and online mechanism providers,” CAIT wrote.
CAIT says it represents 80 million retail stores in India. India’s e-commerce retail market is seen growing to $200 billion a year by 2026, from $30 billion in 2019, the country’s investment promotion agency Invest India estimates.