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'Retail trade policy will prove to be a half-baked exercise without an e-commerce policy'
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IANS | 06 Mar, 2023
Traders' body Confederation of All India Traders (CAIT) on Monday said
that the National Retail Trade Policy will prove to be a half-baked
exercise without an e-commerce policy and codified rules and regulations
for e-commerce trade.
CAIT President B.C. Bhartia and
Secretary General Praveen Khandelwal, in a joint statement said that the
initiative by the DPIIT to roll out National Retail Trade Policy is a
welcome step and will certainly boost the retail trade of India to a
next level. It meets with the long pending demand of CAIT. They demanded
that the stakeholders must be taken into confidence before implementing
the same.
They said that the retail trade has four verticals
corporate retail, non-corporate retail, e-commerce and direct selling
and therefore the National Retail Trade Policy should have a
consolidated and comprehensive policy under which all the four verticals
can work in tandem and no overlapping by one another should be allowed.
They
said that the Indian retail trade market is Rs 130 lakh crore annually
with a 10 per cent growth rate every year but unfortunately, the retail
trade in India is the only vertical of country's retail trade which
neither have a separate ministry nor a policy. Therefore, the National
Retail Trade Policy will prove to be a booster for the economy and trade
and commerce of the country. It is to be noted that about 80 per cent
retail trade is conducted by traditional retailers which are non
corporate retail, about 10 per cent by corporate retail, about 7 per
cent by e-commerce and about 3 per cent by direct selling.
Earlier,
during the day, to register their strong protest and resentment against
alleged violations of FDI policy and high handedness of the foreign
funded e-commerce companies, the traders' body on Monday staged Holi
burning of an effigy at Ghantaghar, Chandni Chowk at New Delhi.
CAIT
urged the government to investigate the business module of e-commerce
companies since every company is showing huge losses year on year but
are still continuing with their business activities. It appears that
these companies are transferring huge amounts to their native countries
in the shape of royalty and by showing losses in India are avoiding tax
obligations.
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