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CIRCUMVENTING OF FDI POLICY BY AMAZON: CAIT CHALLENGE

The Confederation of All India Traders (CAIT), has truly taken a very serious note of reports of Amazon reducing its stake in Prion thus trying to disassociate itself from Cloudtail . The CAIT which has struggled for tougher scrutiny of e-commerce players, said Amazon’s latest move was a circumvention of new rules.

 

CAIT National President Mr.B.C.Bhartia & Secretary General Mr. Praveen Khandelwal said that CAIT would move to Commerce Ministry with a demand to clarify that online retailers should not hold direct, as well as indirect stake, in its vendors. The intention of the policy is being tried to be defeated by Amazon through jugglery of language of which such global e Commerce players are masters.

 

The CAIT will move to Commerce Ministry and demand that Govt should again clarify that stake includes direct or indirect which is the letter and spirit of the policy.

 

Both Mr. Bhartia & Mr. Khandelwal said that These companies are known habitual offenders of policy and now also they are trying ways & means to continue their unethical business practices by circumventing the policy to their advantage .The CAIT reject such kind of circumvent of policy and jugglery of language by Amazon & others to defy the policy. Misconstrued conclusions drawn to their own benefit for flouting the norms and policy will not be accepted at all. The CAIT has sent a communication today to Commerce Minister Shri Suresh Prabhu calling for his immediate intervention in the matter before it’s too late. If Amazon is allowed to circumvent the policy, soon others will follow the same making a mockery of the Govt and its policies. Therefore immediate steps are needed from the Govt.

 

The CAIT however said that it will first challenge the same in Ministry of Commerce and if situation warranted, it will not hesitate to take legal recourse.

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Written by Anjan Kumar Samal

National Secretary-THE LAST HOPE(REGD.)

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