Home / Knowledge / News / Retailers woe as foreign traders bite into their profits
Retailers woe as foreign traders bite into their profits
24
Apr '08
The business community of Fiji held a meeting today to decide a plan of action against Indian exhibitors who have intruded the local market and usurped the profits of the domestic retailers.

Situation has become critical because despite the fact that these Indian Retailers are flouting rules and regulations, they are being allowed to ply their hawking trade in Fiji. It is believed that these traders are not paying regular taxes as goods at import have been grossly undervalued, and they are not even registered for VAT. Besides, they have also been disregarding the PIB regulations, always imposed on the normal retailers.

Moreover, there has also been a speculation about a lot of substandard and seconds merchandise being sold at these so called exhibitions by Indian retailers which are hosted under the pretext of cultural exchanges.

As a consequence, the already depleting retail trade which is down by an average of 40 percent this year will be hit further by this vulture culture.

In an exclusive interview with Fibre2fashion, Mr Himmat Lodhia, President of Fiji Retailers Association stated, “Indian traders have been evading taxes and are making money out of their unscrupulous activity which is neither helping local trader in Fiji nor generating foreign exchange for Indian Government.”

Fiji retailers are hoping that the Government with the assistance of other concerned ministries, Reserve Bank and Fiji Islands Revenue & Customs Authority (FIRCA) would step in to halt such illegal and immoral trade for the ailing economy.

According to Mr Himmat Lodhia, the meeting held today largely involved discussions with Ministry of trade & Commerce, Ministry of immigration, Consumer Council, Reserve bank of Fiji, Fiji Trade & investment Board. There will be positive output from the meeting and the association is looking forward to stricter rules and regulation for foreign exhibitors for betterment of local retailers.


Must ReadView All

Affordable prices to be hit if US pulls out of NAFTA: NRF

Apparel/Garments | On 16th Dec 2017

Affordable prices to be hit if US pulls out of NAFTA: NRF

US retailers’ ability to offer consumers quality products at...

Strong exports, consumption fuel growth in Asia: ADB

Textiles | On 16th Dec 2017

Strong exports, consumption fuel growth in Asia: ADB

Economic expansion in developing Asia is likely to accelerate to 6...

Nomura  foresees 7.5% GDP growth for India in 2018

Textiles | On 16th Dec 2017

Nomura foresees 7.5% GDP growth for India in 2018

India's economy is on the cusp of a cyclical recovery and will...

Interviews View All

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Frank Gossmann
Rotorcraft AG

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

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Hardik Sanghvi

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

Suresh Patel
Sidwin Fabric

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mike Hoffman
Gildan Activewear SRL

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Judy Frater
Somaiya Kala Vidya

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

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
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

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
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

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
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

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
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


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