Piyush Goyal says no to a global company in multi-brand retail

Last Updated at: Dec 03, 2020


  • India will not permit foreign firms in multi-brand retail
  • Govt. urges traders to avail the benefits of MUDRA scheme
  • Predatory pricing will not be entertained and stringent action will be taken against defaulters.

Commerce and Industry Minister Piyush Goyal assured that no global companies in multi-brand retail and strict action will be taken against companies involving in predatory pricing. Indeed, the minister said this in a meeting with the representative of Kirana stores, traders and retailers in Delhi.

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In the meeting, the representative of associations of Kirana stores, traders and retailers had voiced out for the need of level playing field for all the marketers and the e-marketplace and the severe impact on anti-competitive prices such as predatory pricing i.e., selling products and service at very low price with the intentions to achieve new customers.

He also invited all the participants of the event to send their suggestion on the draft e-commerce policy in the next five days.

Only after considering every suggestion received by Department of Promotion of Industry and Internal Trade (DPIIT), the final decision will take place.

And, Confederation of All India Traders (CAIT) demanded early formulation of an e-commerce policy and asked for the formation of the regulatory authority to regulate and monitor the e-commerce business practices with adequate power to penalize the action violating the policy.

It should keep a check on the predatory pricing and deep discounts by e-commerce players. The CAIT also submitted a detailed note demanding the same restrictions imposed on international players be made applicable to domestic e-commerce players.

Piyush Goyal asked the traders to use e-marketplace and avail benefits of central government’s business funding scheme MUDRA to improve their business.

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