Home Business Foreign e-commerce companies violating FDI policy: Akash Shah

Foreign e-commerce companies violating FDI policy: Akash Shah


Mail News Service

Jamshedpur, Oct 23: “The business interests of crores of small and medium scale traders of the country are being sabotaged by continuous violation of the FDI policy by foreign e-commerce companies,” stated Akash Shah, representative (business affairs) of MLA Saryu Roy. Akash mentioned this in a letter to Jharkhand Chief Minister Hemant Soren and demanded immediate cognizance of the matter by holding talks with the central government and stopping the arbitrariness of foreign e-commerce companies.

“All are aware of the economic crisis that has arisen after the COVID period in the India and the country is has incurred heavy losses during the two coronavirus waves. The blows to small and medium traders and the blatant violation of FDI policy norms by foreign e-commerce players are posing a big challenge for the traders during the festive season. If the government does not take immediate cognizance of this matter, then crores of traders may face problems of livelihood and this will have a direct impact on the employment of the country.”

Akash Shah contended that Jharkhand was a state with mostly labourers who were daily wage earners. “In such a situation, its wide impact is being seen in the state of Jharkhand and Jamshedpur city and according to local traders, their sales volume is expected to decline by 40 percent this year due to e-commerce trade,” he wrote in his letter to the Chief Minister.


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