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.