Anti-competitive practices in digital markets: CAIT seeks regulatory body for e-commerce
Traders' body Confederation of All India Traders (CAIT) on Friday demanded that the government should immediately roll out a robust e-commerce policy and form a regulatory authority for the segment.
CAIT reiterated its demands a day after a Parliamentary panel suggested digital market entities to desist from anti-steering, deep discounting, self preferencing, search & ranking preferencing and other practices that will impact competition in the market.
To curb anti-competitive practices in digital markets, a Parliamentary panel on Thursday proposed an ex-ante regulation, classification of systemically important digital intermediaries based on their revenue, market capitalisation and number of users, and a new digital competition law.
The suggestions are part of the Standing Committee on Finance's report on Anti-Competitive Practices by Big Tech Companies tabled in Parliament on Thursday and have come against the backdrop of rising concerns over unfair business practices in digital markets.
CAIT's Secretary General Praveen Khandelwal told PTI that there must be a regulatory authority like Securities and Exchanges Board of India (Sebi) and Reserve Bank of India (RBI), which can regulate e-commerce trade in India.
"Government should release e-commerce rules under Consumer Protection Act, issue a new press note in place of press note 2 of 2018 of FDI Retail Policy," Khandelwal said.
The traders' body also sought simplification and rationalisation of GST (Goods and Services Tax) system and roll out a national retail trade policy.
Edited by Akanksha Sarma