The Confederation of All India Traders (CAIT) has said that the government has indicated that the pending e-commerce policy and rules for e-commerce businesses in India will soon be notified.

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After meeting Commerce and Industry Minister Piyush Goyal on the occasion of Diwali, CAIT's Secretary General Praveen Khandelwal said that the Minister had informed that the documents for both the policy and rules were ready and will be notified immediately after his return from the United States.

Piyush Goyal is slated to return from the US on 17th November, where he is on a 4-day visit to attend the Indo Pacific Economic Forum (IPEF) meeting and other engagements.

Stating that India is in dire need of e-commerce policy and rules, CAIT has claimed that under the current e-commerce business, India's retail market has suffered huge losses due to violation of FDI policy and unhealthy business models being deployed by online companies on a large scale.

Since years, CAIT has been seeking for policy for e-commerce and implementation of rules under consumer law for parity in competition in the e-commerce market. Since the last two years, the Ministries of Commerce and Industry and Ministry of Consumer Affairs, Food & Public Distribution have discussed the issue with all stakeholders in over 70 meetings.

The policy and rules were finalised among all the stakeholders in a meeting held on 2nd August, where a consensus was reached on 6 grounds, in what CAIT describes was the first time such a comprehensive consultation on the issue was done by the government.

Apart from government officials, representatives from Amazon, Flipkart, Reliance, TataClick, Misho, Snapdeal, ShipRocket and CAIT were also present in the meeting where Piyush Goyal had joined virtually.