Commerce and Industry Minister Piyush Goyal has said that all e-commerce companies should follow the law of the land and do not use muscle or money power to hurt Indian interests as many of these large online firms have come into India and ‘very’ blatantly flouted the laws of the land, in more ways than one.
Addressing a webinar the minister said that “The Indian market is big and we welcome all players to come and participate. But clearly we have to have them working within the rules and laws of the country. Unfortunately, many of these large e-commerce companies have come into India and very blatantly flouted the laws of the land, in more ways than one.”
In another development, Confederation of All India Traders (CAIT), domestic traders’ body urged the Government not to dilute the draft of e-commerce rules under any pressure of foreign-funded online firms.
It can be mentioned here that fashion products are a major share of revenue for the e-commerce giants. For example, Amazon India has seen 40 per cent growth in fashion category.
In a communication to Prime Minister Narendra Modi, the CAIT said it has been observed that voices of terming the rules as stringent are being created.
In a statement CAIT said, “In the wake of expected pressure tactics of foreign-funded e-commerce companies against the draft of e-commerce rules…(we urged) PM to ensure that no dilution is made in draft of e-commerce rules under any pressure.”