Some e-retailers indulged in predatory pricing: CIM

Union Commerce and Industry Minister, Shri Piyush Goyal, said at the BRICS trade ministers meeting in Brasilia that some e-commerce companies are indulging in predatory pricing, which has detrimental effects on millions of small retailers. He spoke about the need to to develop digital infrastructure, digital skills and institutions particularly in the developing and less developed nations. The minister also opined, “The developed world advocates open and free trade with emphasis on removal of tariffs in developing countries, while in reality, hey are raising more barriers in the form of NTBs.” He also encouraged different countries to come together to ensure that the reform process at WTO should not dilute provisions like special & differential treatment.