CAIT to strongly oppose every move to bring FDI in retail

As Narendra Modi-led NDA government decides on allowing 51 percent FDI in multi brand retail, the Confederation of All India Traders (CAIT) has appealed to the government to stick to its election manifesto. The BJP in its election promise had expressed its opposition to the foreign investment policy.

The CAIT has also demanded suspension of any move to allow FDI in e-commerce, a step taken after commerce and industries minister Nirmala Sitharaman’s recent meeting with stakeholders of the ecommerce market. A National Trade Policy for Retail Trade should be formulated and a separate Ministry of Internal Trade is set-up to look after domestic trade in India-said CAIT.

CAIT has also been opposing the deep discounting strategies of online platforms. Earlier after Flipkart’s Big Billion Day Sale and Google’s shopping festival, CAIT, a body comprising medium and small retailers, had registered a protest with finance minister Arun Jaitley. Following the ‘Big Billion Sale’, the traders’ body had asked Sitharaman to take steps to monitor and regulate online businesses.