The e-commerce industry needs regulation to provide a level-playing field for small businesses, traders' body CAIT said.
Confederation of All India Traders Secretary General Praveen Khandelwal said that the "same set of 5-6 compacompanies" are top sellers on prominent e-commerce platforms which leaves no scope for small businesses to grow.
"There has to be a regulatory authority...like SEBI for share market, <...> and we are going to request the government (for the same),"
Speaking at a Meesho event dedicated to Micro, Small, and Medium Enterprises (MSMEs), he revealed that the government is likely to roll out a robust e-commerce policy unethical business practices and foreign direct investment (FDI) violations by the end of the month.
Earlier this week, Indian authorities announced that a national e-commerce policy is being finalized. This policy strives to foster the comprehensive and balanced growth of the e-commerce sector by streamlining regulatory processes, integrating modern technologies, optimising supply chains, and bolstering exports.
The traders' body has time and again alleged that foreign online retailers violate norms of FDI in commerce and the government should take action against those indulging in malpractices such as deep discounting and predatory pricing.
Source: The Economic Times