: Traders hail new rules for ecommerce entities #FinanceIndia #StockMarketNEWS Traders hail new rules for e-commerce entities New Delhi, July 28 (KNN) The Confederation of All India Traders (CAIT)

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Traders hail new rules for ecommerce entities #FinanceIndia #StockMarketNEWS
Traders hail new rules for e-commerce entities New Delhi, July 28 (KNN) The Confederation of All India Traders (CAIT) on Tuesday hailed the Union Minister of Consumer Affairs Ram Vilas Paswaan and Union Commerce Minister Piyush Goyal for working in tandem and bringing out a fair, robust and foresighted Policy notification in the form of the New Consumer Protection (E-commerce) Rules, 2020.

This is likely to make the entire E-commerce ecosystem in India much more transparent and equal for all stakeholders and most importantly protect the rights and interests of the consumers of India, said CAIT in a statement.

CAIT National President B C Bhartia further said that on most e-commerce platforms inventory is being controlled by the platform itself and they have listed fake or proxy sellers to sell the inventory and now as per the new rules.

The e-commerce entities are required to display prominently to its users’ full details about the sellers offering goods and services, including the name of their business, whether registered or not and must also display seller geographic address, customer care number, and any rating or other aggregated feedback, he added.

Bhartia further said that this is a landmark provision which will bring about a level playing field in the Ecommerce space as preferential sellers will be impacted. The violation of the rules will attract penal action under the Consumer Protection Act, 2019.

Both Bhartia and Secretary General Praveen Khandelwal said that while the Consumer Protection Act has significantly addressed the concerns of the consumers, the traders are hopeful that the much awaited E-commerce policy of the government which is expected soon, shall address the concerns of the millions of Indian traders who are severely impacted due to unfair and unethical practice of predatory pricing and deep discounting which is rampant on these platforms and is destroying the entire retail market of the country.

Large multinationals are bringing in FDI to fund the losses on account of festive discounts. Such practices are detrimental for the nation and the Government must bring in regulations to put an end to such practice so that the retail trade in India both offline and online can co-exist, they added.

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