Lucknow: Uttar Pradesh Adarsh Vyapar Mandal State President and Confederation of All India Traders (CAT) State Chairman Sanjay Gupta expressed concern over the nexus between e-commerce companies and banks, calling it a well-planned conspiracy to destroy the business of traditional traders and said that this nexus between e-commerce companies and banks is violating the Competition Act, under which any agreement between enterprises or individuals that harms competition is considered criminal.
Trader leader Sanjay Gupta expressed deep concern over the collusion of banks with e-commerce companies like Amazon and Flipkart. He said that this collusion is creating an environment of unhealthy and unequal competition for traditional retailers. He said that if the government does not take immediate cognizance and curb this nexus, then the traditional traders of the retail sector will suffer huge losses during the festive season.
Trader leader Sanjay Gupta alleged unethical collusion between e-commerce companies and brand owners, due to which retail trade is being badly distorted. He said that this collusion has caused huge losses to the traditional retailers of the country.
