Home / Knowledge / News / Apparel/Garments / Traders oppose FDI in retail at CAIT's conclave
Traders oppose FDI in retail at CAIT's conclave
05
Apr '16
The three day national traders' conclave of the Confederation of All India Traders (CAIT) at New Delhi which kicked off yesterday is holding a marathon debate on contentious issue of allowing FDI in e-commerce.

The conclave unanimously decided to launch an aggressive nationwide agitation against allowing FDI in e-commerce since it will create an uneven level playing field and the businesses of the brick and mortar shops will be transferred to e-commerce.

The conclave also noted that the policy of the government suffered from various loopholes which will be advantageous for the e-commerce companies, who will manage to flout the policy easily.

CAIT National Secretary General, Praveen Khandelwal, said that FDI in e-commerce or in retail trade will prove to be detrimental to the trading community. He further said that FDI is available either through private equity or venture capital which does not carry any interest whereas if it is plain funding even then in western countries, the funds are made available at an interest rate of 0.75% to 3% whereas in India the minimum interest rate is 12%.  Because of this wide gap in interest rate itself, the trading community will not be able to compete.

Delegates at the conclave lamented that though Prime Minister is emphasising on need of strengthening small businesses but sadly the actions and policies are much against his vision.

About 10 thousand trade leaders from all over the country are participating in the conclave which is chaired by Mr. B. C. Bhartia, National President of CAIT. Senior officials from Mastercard, HDFC Bank, Amway, eBay and Cibil. (HO)

Confederation of All India Traders

Must ReadView All

Textiles | On 30th Mar 2017

Lok Sabha approves 4 supplementary GST legislations

The Lok Sabha has approved four supplementary Goods and Services Tax...

Courtesy: Shopper Stop

Apparel/Garments | On 30th Mar 2017

Contactless payments at Shoppers Stop

India's leading fashion retailer Shoppers Stop has entered into a...

Textiles | On 30th Mar 2017

Cotton target price kept unchanged in Xinjiang

China’s National Development and Reform Commission (NDRC) has kept...

Interviews View All

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Larry L Kinn
Suominen Corporation

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

Giorgio Mantovani
Corman S.p.A

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search