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Thursday, March 4, 2021

85 million businessmen open front, American companies do not tolerate interference in Indian e-commerce business

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The Confederation of All India Traders (CAT) has strongly criticized the US lobby group USIBC, which has objected to the government’s possible reforms in India’s e-commerce, which is absolutely unnecessary. Kat said that the unexpected intervention of USBIC shows that because Amazon and Walmart are a part of this lobby group and they have understood that their sinister game of controlling and dominating India’s e-commerce and retail business It will end soon, that is why the government is making a lot of efforts to block the initiative of DPIIT to bring a new press note and e-commerce policy but it is also decided that a strong chain of 8.5 crore traders of India The intent of these companies will not be successful and CAT is standing firmly with the government on this issue.

CAT has sent a strong letter to USIBC President Nisha Biswal stating that its interference on this issue is unwarranted without knowing the true facts related to Amazon, Walmart and others which is against the interest of 8.5 crore traders in India. It is noteworthy that the USIBC has urged the Government of India not to tighten the e-commerce rules and not to make any more content restrictive changes in the e-commerce investment rules as it allows e-commerce companies to scale up their business Will deny you the opportunity.

Amazon also found guilty

CAT National President BC Bhartia and National General Secretary Praveen Khandelwal said that at a time when the Delhi High Court has found Amazon guilty for violating FDI policy and FEMA Act in a recent judgment, USIBC’s intervention shows that Both Amazon and Walmart companies are making every effort to stop the proposed changes in the press note.

Companies violating policy

The government is not bringing any new law or policy. In the press note only it will be clarified what to do and what not to do according to the policy. No business can be carried forward by violation of law or any policy. Scaling or growth in business should be within the scope and parameters defined in policy or legislation. When the government is just clarifying the policy, no unit should be worried.

Only companies looking at their profits

According to CAT, USIBC has made a mistake in considering the business of these companies in India as an investment. The capital that is being used by these companies is to carry out their business activities whose profit in the form of revenue is earned by these companies as their personal profit. Therefore, it is factually wrong to call such capital as investment. They are using this so-called investment of capital to support their unethical business practices and are also violating the government’s Foreign Exchange Management Act (FEMA) law and FDI policy. In a recent judgment of the Delhi High Court, the court has taken records that Amazon is violating FDI policy and FEMA Act.

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