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CAIT to launch nationwide protest on FDI in retail

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IANS  |  New Delhi 

The Confederation of All India Traders (CAIT) on Wednesday announced that it would launch a nationwide agitation demanding a policy on e-commerce from the government and to stop allowing foreign direct investment (FDI) in retail trade.

The traders' body said that it would finalise the strategy and timeline for the protest at its National Governing Council meet next month.

"CAIT on the strength of 7 crore small businesses will launch a nationwide agitation and the strategy of which will be finalised in forthcoming meeting of National Governing Council of CAIT on 12-13 January at Bhopal," CAIT Secretary General Praveen Khandelwal said at a protest rally here.

He said that e-commerce and FDI in retail trade will adversely affect the national economy.

Traders staged a protest rally in the national capital on Wednesday demanding a bill in the current session of Parliament on the issue of sealing business establishments in Delhi.

According to a CAIT statement, sealing of business establishments in Delhi has created havoc in the city's trading fraternity.

"No government agency has definite and correct knowledge about sealing which has resulted into loss of business in Delhi in the past few years. Outstation traders are reluctant to come to Delhi for purchases and, as such, the centuries-old distributive character of Delhi trade is highly distorted," it said.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 19 2018. 21:42 IST
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