#TechnologyNews #Why this new US policy has made Indian trade body happy #BB

“Why this new US policy has made Indian trade body happy

NEW DELHI: The Confederation of All India Traders (CAIT) on Sunday welcomed the steps taken by the US to stop supply of counterfeit and pirated goods on e-commerce platforms and wants similar measures by the Indian government also. Under the new policy, published by the Department of Homeland Security of the US Government, the liability for counterfeits has been shifted from third parties to e-commerce platforms.

Notably, the new policy framework will put Amazon and other e-commerce companies in the US for policing the counterfeit goods, said the CAIT in a statement.

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Commenting on the development, CAIT Secretary General Praveen Khandelwal said that it evidently shows that e-commerce platforms are not only engaged in malpractices but also promote counterfeit and pirated goods and even in their home country US.

CAIT will also ask the Government of India to bring such policies for Indian ecommerce market.

“Taking this issue, a delegation of the CAIT will soon meet Union Commerce Minister Piyush Goyal…,” he said.

According to Global Brand Counterfeiting Report, global sales of counterfeits are growing at 15 per cent per year and is estimate to touch USD 1.82 trillion in 2020 and the share of e-commerce is stated to be 25 per cent share of this figure.

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