Union Commerce and Industry Minister Piyush Goyal on Tuesday said some e-commerce companies are indulging in predatory pricing which is adversely impacting millions of small retailers.
“I would like to highlight the adverse impact of predatory pricing indulged by some e-commerce players which adversely impact millions of small retailers. It is important for e-commerce to follow the letter and spirit of the law,” he said at the BRICS trade ministers meeting in Brasilia.
The Minister said the need of the hour is to develop digital infrastructure, digital skills and institutions particularly in the developing and less developed world.
The global economic outlook is facing grave challenges amidst growing protectionism and rising trade tensions manifested in unilateral measures, Goyal noted.
“In this uncertain world, India continues to offer economic opportunities,” he said mentioning several steps taken by the union government to attract investments.
The Minister said increasing trends of protectionism in the form of non-tariff barriers (NTBs), both stated and unstated, deny market access, particularly for developing countries. “The developed world advocates open and free trade with emphasis on removal of tariffs in developing countries, while in reality, they are raising more barriers in the form of NTBs,” he said.
These developments are contributing to enhancing economic uncertainties and raising the cost of doing trade in developing and least developed countries, Goyal said.