CAIT wants govt to probe ‘unholy nexus’ of e-commerce firms, banks

NEW DELHI : Traders’ body CAIT on Sunday demanded a high-level enquiry by the Centre to probe the “unholy nexus” of e-commerce firms, companies owning brands and banks for causing price distortion in the country’s e-commerce market.

Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT) also urged Prime Minister Narendra Modi to constitute a Group of Ministers (GoM) to look into the alleged distortions, both in the e-commerce and brick & mortar format of retail.

Union Minister Piyush Goyal had earlier this week said that the government was looking into alleged predatory pricing by Walmart-owned Flipkart and Amazon.