'Amazon-Flipkart nexus is economic terrorism': CAIT delegation meets Union Min Prabhu

CAIT Secy General Khandelwal said that these entities are opposing the FDI policy in e-commerce because it is against their unethical business practices.

Atom E-Commerce

The Confederation of All India Traders (CAIT) has strongly condemned the seemingly unholy nexus between Amazon and Flipkart to oppose the recently revised FDI policy in E-Commerce. It is highly regretted that Industry bodies like FICCI and CII are also reported to support the nexus. It is nothing but economic terrorism by such vested entities which will be opposed tooth and nail by the trading community of the country, Secretary General of the CAIT, Praveen Khandelwal said.

Meanwhile, a delegation of CAIT led by Khandelwal met Union Commerce Minister Shri Suresh Prabhu on Thursday and conveyed the unflinching support of traders to the government on this issue. They also cautioned that no changes should be brought under any pressure or coercion tactics of such entities and traders across the country will strongly and stoutly oppose any move to change the policy to the advantage of these companies and distort the level playing field.

Suresh Prabhu, while talking to the delegation, said that the government is actively working on E-Commerce Policy and once it is finalised, it will be implemented soon. He also said that the government is committed to ensure level playing field for all stakeholders with fair competition opportunities and is opposed to any kind of malpractices. E-Commerce is a growing and promising market and consumers should get fair treatment. He also assured that the government has its attention towards problems of small businesses and efforts will be made to provide them with greater and better business opportunities.

Khandelwal said that with the activities of these entities, one thing is clear that the clarifications are an onslaught on their unethical business practices including predatory pricing, deep discounting, loss funding and exclusivity and they are sure to lose business, which is prompting them to oppose the policy.