New Delhi [India], October 2 (ANI): Industry body Confederation of All India Traders (CAIT) has raised concerns on the deep discounts or cashbacks provided by the e-commerce festive sales by the companies, which tends to monopolise the retail market, hence reducing the abilities of the small offline retailers. The industry body recomended suspending the e-commerce festival sale along with several other recommendations to provide a level playing field to all the players in India's retail ecosystem. Also Read | Israel-Iran Conflict: MEA Issues Advisory Amid Growing Tensions in Middle East, Advises Indians To Avoid Non-Essential Travel to Iran.
"Exclusive cashbacks are anti-competitive and encourage grey market operations. A ban would help restore fairness in the market," the industry body stated in its whitepaper. It highlighted, citing the Competition Commission of India (CCI) findings, that the cash burn strategies and collusive partnerships of the e-commerce platform enable them to monopolise markets by forming exclusive alliances with OEMs and banks.
Also Read | PAK vs ENG 2024: England Cricket Team Receives Traditional Welcome After Arriving in Multan Ahead of Test Series Against Pakistan (Watch Video). "This anti-competitive behaviour forced customers to rely on e-commerce platforms, sidelining the traditional retail sector," the CAIT added in its while paper. It also raised concerns, adding the issue of lack of price control.
"E-commerce platforms, through exclusive agre.