• E-commerce sites unfavorable for local traders in Ranchi

    Seeking a level playing field to do business in the state, an 11 member team of Dhanbad Chamber of Commerce went on a day-long hunger strike at bank more on Wednesday against e-commerce portals.

    Traders said online shopping portals like Amazon and Flipkart have eaten into their profits, bringing down their counter sale by 25%. Dhanbad chamber president, Rajesh Gupta, told TOI the strike will hopefully turn the spotlight on the plight of small businesses in the state. “The e-commerce portals offer big discounts and also run at a loss at times to put small-time enterprises out of business,” said Gupta.

    Gupta said small businesses are unable to compete with e-commerce players as they do not have “big capital”.

    “Items are sold at a fraction of the cost on online shopping sites, or at the factory rate. Middle-class families have access to smartphones, giving them the power to make purchases easily. If action is not taken against these online retailers, we might have to shut shop,” he added.

    Gupta said products worth Rs 10 crore enters Jharkhand on a monthly basis, without the state government earning any revenue of it.

    Jharkhand Chamber of Commerce president Pawan Sharma said the state government should define borders perfectly and impose tax on goods that enter the state.

    He also said that state chamber is in negotiation with union finance ministry to guard the interest of small businessmen across the country. Jason Myers Authentic Jersey

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