Retailers from Chenoy Trade Center (CTC) downed shutters on Monday as mark of protest against the online electronic retail industry, which they claim has monopolised retail.
Calling for closure for online electronic retails, traders at one of country’s biggest computer retail market said the government has not adequately regulated the pricing of online retailers and allowed them to cannibalise the market.
Traders claimed that in CTC alone, 600 dealers and 20,000 employees stand to lose their livelihoods if the government did not act to restrain online retailers.
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The agitating traders marched from CTC to Gandhi statute via Parklane, leaving the police flustered as the rally choked the traffic movement through narrow road.
“We cannot compete with online sale prices. Only one or two online retailers are trying to monopolise the market space. They do not pay value added tax on the grounds that they simply ship products to consumer. In the real world we have to factor intermediate costs and profit margin with in MRP,” said M. Veera Swamy, president of Twin Cities Computer Dealers Association.
He claimed that though offline retail sector is estimated at Rs. 150,000 crore, it was feeling the heat from the smaller online retail sector worth Rs. 18,000 crore.
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The traders also claimed online sales were associated with frauds and fake products.
“Down with online retail. Protect consumer from fake products,” read a placard at the protest rally.
Traders demanded that the government should restrict discounts that online retailers can give to ensure fairness in the retail industry.