FDI in e-commerce retail to impact small businesses: CAIT

The traders body also said that it will allow 'a big jolt' in e-retail

Traders body The Confederation of All India Traders (CAIT) on Thursday said it is opposed to any move of permitting foreign direct investment in e-commerce retail sector.

CAIT said that FDI in this sector would impact small businesses.

"It is regretted that so far no scheme has been evolved to ensure growth in Indian small businesses," it said in a statement.

The traders body also said that allowing FDI in e-retail would be "a big jolt" as the e-commerce players will source cheap products and will sell in India.

"The government should constitute an autonomous board on internal trade to draw a charter for systematic and structure growth of domestic trade in India," it added.