Govt will not allow multi-brand retail by foreign firms, predatory pricing: Piyush Goyal

New Delhi: Commerce and Industry Minister Piyush Goyal said that government will not allow multi-brand retail by foreign companies and on the pretext of B2B no entry will be allowed for multi-brand retail. He asserted that predatory pricing will not be allowed

He said that necessary action will be taken against defaulters, adding that government will give all support and assistance to small traders and retailers to grow their business.

During a meeting with representatives of associations of kirana stores, traders and retailers in New Delhi, representatives of the associations of kirana stores, traders and retailers discussed the need for a level playing field and the impact of anti-competitive practices like predatory pricing and other discriminatory methods that are being faced by them from foreign competition.

Goyal urged the participants to speak frankly and put before him all their apprehensions and fears so that the Commerce and Industry Ministry and other Government Departments may be able to address them.

He further said that the aspect of data in the law is being addressed by the Ministry of Electronics and Information Technology (MeitY). He requested the representatives of associations of kirana stores, traders and retailers to send all suggestions for the draft e-Commerce policy in the next five days without any delay. The e-Commerce policy will be finalized only after taking into account every suggestion received by the Department for Promotion of Industry and Internal Trade (DPIIT), said the Minister.

Piyush Goyal urged small retailers, kirana stores to make use of modern technology and avail benefits of Government of India schemes like MUDRA to improve their business, spruce up their shops, improve stocks by storing high quality products and pass on the benefits to people employed by them.

The Minister also looked at the possibilities of small stores, traders and retailers who may benefit from an e-Commerce platform. He urged small traders and retailers to come on the GeM platform which has achieved Rs. 25000 crore turn over.