New Delhi, July 11 (TIWN) The Confederation of All India Traders (CAIT) has alleged that foreign-funded e-commerce majors are creating a 'false narrative' that the draft norms for the sector would impact foreign direct investment into India and the country's image as an investment friendly nation.

In a statement, the traders’ body said that the draft e-commerce rules under the Consumer Protection Act have been designed in a way to set the basic fundamentals and parameters of e-commerce business in India which has registered an exponential growth since last year but suffers with various kinds of irregularities, anomalies and unhealthy business practices of some of the major foreign funded e-tailers.  It alleged that the “exploitation” of the e-commerce business has reached to an extent that lakhs of shops have been forced to close by unethical business practices of e-tailers in India.