Traders to hold rally to protest sealing, FDI on Dec 19

Traders' body CAIT said Monday it would hold a rally here on Wednesday to demand that the government brings in a bill in the ongoing session of Parliament to stop sealing in Delhi.

The Confederation of All India Traders (CAIT) also said it would urge the government not to allow foreign direct investment (FDI) in the country's retail sector.

The Union Cabinet earlier this year permitted 100 per cent 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.

CAIT Secretary-General Praveen Khandelwal said sealing has distorted and disrupted Delhi's trade to a great extent.

He alleged that the entry of multinational corporations and FDI in retail trade have damaged the domestic trade to a great extent.

Khandelwal said either the government should bring a bill to stop sealing in the current session of Parliament or bring an ordinance just after the conclusion of the ongoing session, adding that shops which have been sealed should be de-sealed immediately.