Home / Knowledge / News / Apparel/Garments / CAIT asks Niti Aayog CEO to draw retail trade policy
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


Must ReadView All

Textiles | On 22nd Aug 2017

Cotton yarn futures trading begins in China’s Zhengzhou

Cotton yarn futures trading recently began on the Zhengzhou Commodity ...

Textiles | On 21st Aug 2017

GST payment & filing for July extended till Aug 25

The GST Implementation Committee, consisting of state and Central...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search