Home / Knowledge / News / Apparel/Garments / CAIT to oppose FDI in retail 'tooth and nail'
CAIT to oppose FDI in retail 'tooth and nail'
11
Jan '16
The Confederation of All India Traders (CAIT) has strongly objected to the suggestion made by industry bodies to Government for allowing FDI in multi brand retail and also allowing corporates in agricultural farming. " Any step to allow FDI in multi brand retail will be opposed tooth and nail,” CAIT Secretary General Praveen Khandelwal said in a press release.

CAIT National President B.C.Bhartia said that BJP and other political parties except Congress had supported the traders in their movement against FDI in retail during UPA regime and categorically assured the trading community that no FDI will be allowed in retail trade. The then BJP President Rajnath Singh even went to the extent in saying that in event of BJP coming to the power, the current notification of allowing 51 per cent FDI in multi brand retail will be withdrawn. The promise was even enshrined in BJP's 2014 election manifesto. Under the circumstances, the trading community expect the Government not to allow FDI in retail, CAIT said in the release.

It said that at a Traders Conference held in Nagpur by CAIT on January 5 and 6, more than 200 trade leaders from different states unanimously adopted a resolution demanding that in pursuance of committed stand of the BJP, no FDI should be allowed in retail trade of India and instead the Government should formulate a policy to upgrade and modernise the existing retail trade to meet the global challenges.

It has also demanded that specified policy must be framed for e-commerce business in India. CAIT has alleged that e-commerce have twisted the FDI policy to represent themselves as marketplaces while selling directly to consumers, which under the FDI policy, they cannot do.

On January 7, industry bodies including CII and FICCI had the government to ease FDI norms, especially in sectors such as multi-brand retail, education and e-commerce.

The demands and suggestions of industry chambers came at a pre-Budget meeting with Commerce and Industry Minister Nirmala Sitharaman and officials in New Delhi. (SH)

Fibre2Fashion News Desk - India


Must ReadView All

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

Trade & consumers want MDR free digital payments: CAIT

Apparel/Garments | On 12th Dec 2017

Trade & consumers want MDR free digital payments: CAIT

Transaction charges like the merchant discount rate (MDR) applicable...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Suresh Patel
Sidwin Fabric

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

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Mike Hoffman
Gildan Activewear SRL

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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

December 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
69.2%
No
12.1%
Skip
18.7%

Total Votes: 91

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
61.5%
No
30.8%
Skip
7.7%

Total Votes: 91

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
86.8%
No
9.9%
Skip
3.3%

Total Votes: 91

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
81.3%
No
8.8%
Skip
9.9%

Total Votes: 91


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