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CAIT cries foul as CII wants 100% FDI in multibrand retail

22
Dec '18
CAIT cries foul as CII wants 100% FDI in multibrand retail
The Confederation of All India Traders (CAIT) has strongly condemned the recent suggestion by the Confederation of Indian Industry (CII) to the Indian Government to allow 100 per cent foreign direct investment (FDI) in multi-brand retail trade. Accusing CII to be “a mouthpiece” of multinational corporations (MNCs), CAIT said CII lacks locus standi on the issue.

The suggestion was part of a report on National Retail Policy released by CII.

CAIT national president BC Bhartia and secretary general Praveen Khandelwal said in a statement that CII is the organisation of big players and retail trade is not its core constituency.

CAIT and seven crore small businesses will strongly oppose any move to allow FDI in retail, both said. (DS)

Fibre2Fashion News Desk – India


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