New Delhi, December 23: Traders' body CAIT on Friday demanded that the government should immediately roll out a robust e-commerce policy and form a regulatory authority for the segment.

To curb anti-competitive practices in digital markets, a Parliamentary panel on Thursday proposed an ex-ante regulation, classification of "systemically important digital intermediaries" based on their revenue, market capitalisation and number of users, and a new digital competition law. E-Commerce Revenue Plummets $250 Billion Globally in 2022: Report.

The suggestions are part of the Standing Committee on Finance's report on 'Anti-Competitive Practices by Big Tech Companies' tabled in Parliament on Thursday and have come against the backdrop of rising concerns over unfair business practices in digital markets.

Confederation of All India Traders (CAIT) Secretary General Praveen Khandelwal told PTI that there must be a regulatory authority like Sebi and RBI, which can regulate e-commerce trade in India. E-Commerce Entities May Face Heavy Penalty for Posting Fake Reviews of Products: Report.

"Government should release e-commerce rules under Consumer Protection Act, issue a new press note in place of press note 2 of 2018 of FDI Retail Policy," Khandelwal said. The traders' body also sought simplification and rationalisation of GST (Goods and Services Tax) system and roll out a national retail trade policy.