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CAIT asks Niti Aayog CEO to draw retail trade policy
27
Apr '16
The Confederation of All India Traders (CAIT) has criticised Niti Aayog CEO, Amitabh Kant for his for his comment last week that brick and mortar business will be dead by 2023.

Kant had also said brick and mortar businesses will move towards ecommerce, which means companies will be increasingly driven by technology.

CAIT did take kindly to Kant's advice.

“It is sad that retail trade which is called as backbone of economy has been neglected so far by one and all and circumstances and policies are being crafted in a way that it dies its natural death and market is taken over by MNCs. Such love towards MNCs is beyond any doubt speaks mindset of the policy makers,” CAIT said in a press release.

“Creating a hype of necessity of FDI in retail trade and in e commerce is a part of sinister agenda of a particular lobby which is working against domestic trade and want to create several East India Companies once again to capture our trade. We will not let this happen at any cost and prepared to fight it out tooth and nail,” it continued.

The CAIT insisted that upgradation and modernisation of retail trade is all the more necessary and it was expected that government would initiate steps in this direction but it hasn't.

It said that with an eye on future mode of business, it has already launched a nationwide campaign among trading community as also for adoption of digital payment in association with MasterCard and HDFC Bank.

The CAIT said that support policies from the Government is the need of the hour for encouraging the brick and mortar shops for adoption of technology on one side and also an awareness drive among consumers to prefer digital payments. It will also help in curbing flow of black money in different sectors and at different levels.

The CAIT also put the ball in the Niti Aayog CEO's court. ”Since Kant has come out with a bold statement, it is imperative upon the Niti Aayog to draw such policies especially when it's CEO is forecasting future style of business in India,” it said in the release. (SH)

Fibre2Fashion News Desk - India

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