Unethical practices followed by the online retailers have created an uneven playing field for SMEs.
Country's small and medium traders today urged the Union Government to set up a ‘board of internal trade’ to address the issues of the SME sector.
Small and medium traders echoed that unethical practices followed by the online retailers have created an 'uneven playing field', says a PTI report.
The report further states that representatives of the non-corporate sector from across the country have gathered in a 'rally of small traders' at the Ramlila Maidan in Delhi under the banner of Confederation of All India Traders (CAIT).
CAIT's National General Secretary Praveen Khandelwal told PTI, "Our sector (non-corporate) is contributing more to the GDP, even then we are being neglected by the government in national policy making. Because of online business, our sector has suffered a loss of 45% over the last year. We are not against the online commerce but we want to know where is there funding coming from, and whether their practices are tax-compliant or not. This should be probed."
He further added, "We contribute about 45 per cent of the GDP and corporate sector only makes about 15%. We make up for about six crore business establishments, we generate 46 crore employment and we have an annual turnover of Rs 30,000 lakh. But, we still suffer."
"The core banking sector has failed to address financial assistance to non-corporate sector as so far only 4 per cent of this sector can obtain finances from banks and rest 96 per cent is still dependent upon private money lenders," said Union Urban Development Minister Venkaiah Naidu.
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