Srinagar, Mar 6: To register their protest and resentment against “continued gross violations of FDI policy and high handedness of the foreign-funded e-commerce companies like Amazon &Flipkart”, the Confederation of All India Traders (CAIT) today staged a protest demonstration at LalChowk Srinagar.
The protest was headed by the president CAIT Kashmir Unit FarhanKitab and general secretary Peer Imtiaz.
“On the call of the CAIT, similar protests were held at more than 300 cities of different states of the country. The CAIT has strongly demanded the Government to immediately roll out e-commerce rules under Consumer Protection Act and a well-defined e-commerce policy coupled with an empowered Regulatory Authority on the pattern of SEBI or TRAI to regulate and monitor the e-commerce trade in India”, a statement issued here reads.
Demonstrating against the e-commerce business in India and distorting its nature, a large number of traders belonging to prominent trade associations were shouting slogans while holding effigies of both Amazon and Flipkart in their hands.
“E-commerce companies are flouting rules and policies not only in the supply of goods but also in other retail verticals including logistics, travel & tourism, entertainment, cab services, ticketing, delivery of food items, online delivery of medicines, education, online games etc.”, protesters alleged.
CAIT leaders have strongly urged the Government to investigate the business models of e-commerce companies since every company is showing huge losses year on year but is still continuing with its 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.