In a bid to level the playing field between online and offline retailers, the Confederation of All India Traders (CAIT) has written to Commerce Minister Piyush Goyal seeking the implementation of a ‘minimum operating price’ below which items will not be allowed to be sold. The traders’ body also called on the government to take other steps such as asking banks to offer cash-back schemes for offline retailers as well. “Under the circumstances and visualising it as a price war, we suggest that it is the high time when Government must step in and enforce the fundamental of ‘Minimum Operating Price’ (MOP) which is the price consisting of landing price, operational cost and reasonable profit margin and below the MOP no product should be sold in the market,” the letter said. “It is further disappointing that several banks are also involved in this nexus by offering various cash back schemes exclusively to online sales,” CAIT added. “All schemes of the brands should be made available to online and offline trade in transparent manner,” the letter said.

Source: The Hindu November 17, 2019 12:35 UTC