The confrontation between big boys of e-commerce Flipkart, Amazon and Snapdeal and small traders is set to get intensify in coming days. Concerned over discounts and promotion sales offers by the on-line shopping sites in the festival season, small traders have threatened to launch a nation-wide agitation if government doesn't come out with regulations to regulate these e-commerce websites soon.
However on the other side industry chamber Assocham has asked government that recent Flipkart incident should not be used as a ploy to subject the fledgling and a hugely promising e-commerce space to regulation over and above the rules of the game which are applicable to normal business.
It said that the sector holds big promise in terms of creating new market among the aspirational middle-class consumers and any over-regulation will "kill the business in its infancy, denting the entrepreneurial spirit of the promoters, most of whom are young".
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India on Monday said that it could consider imposing "some kind of safeguard duties' on Chinese imports to bridge the huge trade gap as it cannot be sustained in the long run.
"This trade deficit (between India and China) is not sustainable in the long run and therefore it is very important to understand for Chinese companies that in the coming years, India will have to put some kind of safeguards whether it is in terms of standards... "India will do this because (India) can not sustain this (trade deficit) for over a long period," said Department of Industrial Policy and Promotion (DIPP) Secretary Amitabh Kant.
India's trade deficit with China stands at about $36 billion with exports totalling only $15 billion against $51 billion imports. Speaking at the function of industry body PHDCCI Kant said that it was time that Chinese companies should increase invest in India and set up manufacturing bases.
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