DAIKIN

Traders Hold Rally To Protest Sealing, FDI In Retail

Traders’ body CAIT held a rally over its demand that the government should bring a bill in the current session of Parliament to stop sealing here.

The Confederation of All India Traders (CAIT) also urged the government not to allow foreign direct investment (FDI) in the country’s retail sector.

In a statement, the CAIT demanded that the government should announce a policy on e-commerce.

The Union Cabinet earlier this year permitted 100 percent FDI in single-brand retail under automatic route, while also easing local sourcing norms.

Besides, a top official last week said the government has no proposal to change the existing foreign direct investment (FDI) policy in the multi-brand retail trading sector.

Federation of Retailer Association of India (FRAI), a representative body of 4 crore micro, small and medium retailers announced its support to CAIT’s protest and demanded the government to revoke Walmart’s acquisition of Flipkart.

“FRAI also appeals the Government of India to revoke the Walmart– Flipkart deal as the livelihood of millions of families are at stake because of deep discounting, loss funding and market concentration strategies adopted by the internet marketing companies,” it said in a statement.

The traders also demanded the government to bring a Bill in current session of Parliament to stop sealing in Delhi or bring an ordinance soon after the current session.

CAIT Secretary General Praveen Khandelwal said the body would launch a nation-wide agitation and its strategy will be finalized in the Governing Council meeting of the industry body on 12-13 January at Bhopal.― Moneycontrol

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