FDI in e-commerce will be opposed, says CAIT
Traders body CAIT has said it will strongly oppose FDI in e-commerce amid a report suggesting the government to review its position and allow foreign investment into B2C e-retail segment.
“Any move to allow FDI in e-commerce will be opposed tooth and nail,” Confederation of All India Traders (CAIT) said in a statement.
Rejecting the report, it said the recommendations appear to be vague and orchestrated to facilitate entry of multi— national companies and global e-commerce players not only in e-commerce but also in retail trade.
It said the survey has failed to study the module of e-commerce players.
Delhi—based think tank Pahle India Foundation in a report said that e-commerce has actually spurred the growth of Medium and Small Manufacturing Enterprises (MSMEs) and not disrupted the small retailers.
“It is our recommendation that the government must review its current policy and allow FDI in B2C (business to consumer) e-commerce or online,” the report added.
At present, 100 per cent FDI is allowed only in business— to—business (B2B) e—commerce and not in retail segment.
FDI in e-commerce will be opposed, says CAIT Reviewed by sambasivan srinivasan on 10:08:00 PM Rating: