Commerce minister Piyush Goyal would be addressing traders on January 27 on the role and importance of the trader community in fulfilling Prime Minister Narendra Modi's vision of a $5 trillion economy.
"He will take up issues on domestic trade and how to boost domestic trade in the country. He'll talk on what would be the support policies for the government to boost domestic trade," said Praveen Khandelwal, Secretary General, Confederation of All India Traders (CAIT).
Goyal would also speak on issues relating to e-commerce, domestic retail, support policies, foreign direct investment in retail and everything that needs to be looked into to achieve PM Modi's vision.
The event is being organised by CAIT, which has been vocal in its objections to e-commerce companies, which they accuse of distorting the market.
In a letter to Commerce minister Piyush Goyal dated January 24, CAIT has alleged that the common phenomenon in these companies of incurring huge yearly losses and earning revenues is not a healthy business practice.
The Competition Commission of India had ordered a probe into Amazon and Flipkart over their discounting practices, exclusive brand launches on the platforms and the preferential treatment they have allegedly offered to certain mobile phones sellers.
The commerce minister came out in support of domestic traders and said that Amazon was not doing India any favours. His statement came a day after the Amazon's CEO Jeff Bezos pledged to invest an additional $1 billion in the country, adding that this was probably on account of a need to fund losses.
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