Traders protest against govt policies on FDI, FTA

Traders and several union leaders from different states today participated in a rally to protest against the government's initiatives like opening up retail sector for foreign investors and proposed India-EU FTA.
During the rally here, the Confederation of All India Traders (CAIT) today said the government is moving forward with these policies without taking into account the adverse impact of them on the domestic industry, mainly small traders who have been urging the government to think twice before going ahead with them.
"The government has not evolved any policy to exploit domestic resources of the country for revival of the economy and on the contrary it is making all efforts to woo and encourage global companies to invade domestic trade of the country. Such an approach needs to be condemned in most strong words," CAIT National President B C Bhartia said.

In India, there are more than 5 crore retail units in the unorganised sector, providing livelihood to more than 22 crore people in the country.
"But the unfortunate part is that despite the backbone of Indian economy, the domestic trade has been neglected by the government and was never taken on priority," CAIT Secretary General Praveen Khandelwal said, while addressing the rally.
The CAIT claimed that FDI in retail and proposed free trade agreement with European Union will prove to be devastating for the country as these will pave way for global companies to gain market access in India, besides controlling and dominating the country's internal trade.

"This, in turn, will render crores of people unemployed and shall be a death knell to small and medium industries in the country. Therefore, it is a pity that the government has converted itself as a facilitating agency for global companies to pave their way for making inroads into economic structure of the country," CAIT Convener Adarsh Gupta said.
The confederation claimed it has a membership of over five crore and nearly two lakh people participated in the today's protest.