NEW DELHI: The Confederation of All India Traders (CAIT) on Wednesday held a rally over its demand that the government should bring a bill in the current session of Parliament to stop sealing here. CAIT also urged the government not to allow foreign direct investment (FDI) in the country’s retail sector.
In a statement, CAIT demanded that the government announce a policy on E-commerce. The Union Cabinet earlier this year permitted 100 per cent FDI in single-brand retail under the automatic route, while also easing local sourcing norms.
Additionally, 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. The Federation of Retailers Association of India (FRAI), a representative body of 4 crore micro, small and medium retailers, announced support for CAIT’s protest and demanded that the government revoke US-based conglomerate Walmart’s acquisition of Flipkart.
“... as the livelihood of millions of families are at stake because of deep discounting, loss funding and market concentration strategies adopted by the internet marketing companies,” it said in a statement.
The traders also demanded the government bring a Bill in current session of Parliament to stop sealing in Delhi or bring an ordinance soon after the current session.
CAIT Secretary General Praveen Khandelwal said the body would launch a nation-wide agitation and its strategy will be finalised in a meeting of the industry body in January.
(With PTI inputs)