Following a demand by the Confederation of All India Traders (CAIT) to formulate a national policy for retail trade, Indian Commerce Minister Suresh Prabhu has agreed to formulate one to include all verticals of retail trade — small business, big retail, e-commerce and direct selling — under one umbrella, the confederation said in a statement. In a recent meeting between Prabhu and a CAIT delegation, the industry body complained against e-commerce platforms for indulging in deep discounting and loss funding, thereby violating the government’s Foreign Direct Investment Policy (FDI) 2016, according to report.
