SOME E-TAILERS INDULGE IN PREDATORY PRICING: GOYAL

A day before meeting his US counterpart to close the gaps for the proposed bilateral trade package, India’s trade minister Piyush Goyal on Tuesday used the BRICS platform once again to raise concern over predatory pricing techniques used by some e-commerce companies in India.

“I would like to highlight the adverse impact of predatory pricing indulged by some e-commerce players which adversely impact millions of small retailers. It is important for e-commerce to follow the letter and spirit of the law,” Goyal said at a session titled “Advancing BRICS Trade and Investment Cooperation—the road ahead” at the BRICS trade ministers meet in Brazil.

Prime Minister Narendra Modi will take part in this year’s BRICS summit to be held on Wednesday and Thursday in Brazil.

The summit’s theme is ‘Economic growth for an innovative future.’

Speaking at the US-India Strategic Partnership Forum last month, Goyal said India and the US have agreed on the broad contours of a proposed trade deal and may announce it after closing the pending gaps.

“It’s just posturing. The minister is trying to create leverage ahead of his meeting with USTR Robert Lighthizer,” a trade expert said speaking under condition of anonymity.

Last month, ahead of the Maharashtra elections, Goyal had said the government will take the strictest action against e-commerce companies if they are found to be violating India’s e-commerce policy.

ASIT RANJAN MISHRA