New Delhi: Traders' body CAIT on Wednesday welcomed the government's move to tighten norms for sale of products by e-commerce firms but demanded the introduction of an e-commerce policy and regulator to monitor the sector.
"It is a big achievement after a long struggle. If it is implemented in proper spirit, mal-practices and predatory pricing policy and deep discounting of e-commerce players will be a matter of past," Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal said.
The government on Wednesday took a host of steps and barred e-commerce firms from selling products of the companies in which they have equity stakes or management control.
The commerce and industry ministry also prohibited e-commerce companies from entering into an agreement for the exclusive sale of products.
Khandelwal said measures announced by the government should be implemented with retrospective effect from 1 April, 2018.
"An entity having equity participation by e-commerce marketplace entity or its group companies, or having control on its inventory by e-commerce marketplace entity or its group companies, will not be permitted to sell its products on the platform run by such marketplace entity," the ministry said.
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Updated Date: Dec 27, 2018 12:41:01 IST