: Govt to bring amendments to Competition law for greater regulation of etailers: FM #FinanceIndia #StockMarketNEWS #Business New Delhi: The Centre on Tuesday said that it has proposed certain amendments

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Govt to bring amendments to Competition law for greater regulation of etailers: FM #FinanceIndia #StockMarketNEWS #Business
New Delhi: The Centre on Tuesday said that it has proposed certain amendments to the Competition law for greater regulation of e-commerce platforms and ensure that presence of etailers has no severe impact on local jobs.



Responding to a series of queries on this issue during
the Question Hour, Corporate Affairs Minister Nirmala Sitharaman said in Rajya
Sabha that the cabinet has already looked into the amendments.



“The Competition Act Regulation Amendments will now bring
in greater regulation.The cabinet has looked into it. This is one of the
ways we are trying to regulate (e-commerce platforms),� she said in the Upper
House. The amendments to the law have been proposed as per the recommendation
of the Competition Law Reviewing Committee, under the chairmanship of Corporate
Affairs Ministry, she said.



On job loss, the Minister said such kind of impacts have
been assessed by the committee and “action is being taken through various
amendments suggested to the Act so that impact is not as serious.�



Prior to setting up of the committee, Sitharaman said
anti-trust watchdog Competition Commission of India (CCI) had made efforts to
promote self-regulation through advocacy from January this year after looking
into a complaint it had received in April last year.



However, a court order from Karnataka stopped the CCI
from taking further steps on self-regulation, she said.



In its report on the complaint, the CCI had identified
several practices which were not true to the ideals of free and fair market
practices, she added.
The post Govt to bring amendments to Competition law for greater regulation of etailers: FM appeared first on The Navhind Times.

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