CAIT wants govt. to set up watchdog to regulate offline, online retailers

The Confederation of All India Traders (CAIT) has urged the government to set up a proper watchdog which will regulate both offline and online retailers and oversee any violation of foreign direct investment (FDI) rules governing the country’s retail trade. At a meeting with commerce and industry minister Nirmala Sitharaman, CAIT complained against alleged violation of FDI rules by e-tailers, it is understood. The Confederation is also pitching for the creation of a new and comprehensive trade policy and a separate ministry for internal trade at the both central and state levels.

The demands come amid a growing want for the department of industrial policy and promotion (DIPP) to act against alleged violation of FDI rules by e-commerce players like Amazon , Flipkart and Paytm. The DIPP has maintained that it only formulates FDI policies but isn’t their enforcing authority.