New Delhi, March 9 (SocialNews.XYZ) Coming down heavily on the Competition Commission of India (CCI) for dropping investigation against Amazon for alleged violations pertaining to selling private labels on its portal, the Confederation Of All India Traders (CAIT) termed the fair market regulator as a "spineless toothless body" incapable of discharging its duties.
The traders' body also termed the CCI as an "Anti-Trust Regulator".
"Issues kept pending for a longer and indefinite period and by that time, the gravity of the issue already caused damage to the affected party. The CAIT has demanded an in-depth study of the working of the CCI and remedial measures to make it a more efficient and accountable regulator like TRAI, SEBI" the traders' body said in a statement.
It is highly unfortunate that the CCI has dropped such an important investigation against law offender Amazon after starting a suo-moto case based on a global news agency's report which was published on October 13, 2021 and it took suo-motu cognisance on October 21 passing an order seeking details from Amazon, said CAIT's National President B.C. Bhartia and Secretary General Praveen Khandelwal in a joint statement.
The joint statement further added that the agency report was "absolutely unambiguous and crystal clear" highlighting how Amazon was pushing its own private label business when it was supposed to perform only as a marketplace as per FDI norms.
"We believe that CCI did not ask the agency to substantiate its charges referred to in its published article and an ex parte order was passed by the CCI which violates the norms of principle of natural justice."
"We are at a loss to understand why the government and government agencies are keeping a complete silence on the daylight violations of policy, rules and laws by Amazon and others."
Indian traders are extremely perturbed and shocked that the retail ecosystem has been left vulnerable simply because regulator CCI has failed to discharge its duties, it said.
"The CCI was supposed to ensure that interests of all stakeholders must be protected but over the last 5-7 years, foreign multinational giants have steamrolled their way through the Indian market, violating all laws in spirit and creating unhealthy business environment and CCI has been a mere spectator till date not able to rein in the foreign players."
Thus, the statement said it is the government's duty to ensure that 80 million traders of India do not perish against the onslaught of foreign retail players.
"The Department for Promotion of Industry and Internal Trade (DPIIT) is primarily responsible to safeguard India's internal trade but it is a matter of grave concern that Indian traders are fast losing faith in the efficacy of DPIIT as well as there is no sign of early roll out of long pending e-commerce policy."
Source: IANS
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