>>
Home / Knowledge / News / Apparel/Garments / Stick to clarifications on FDI in MBRT: Traders tell govt
Stick to clarifications on FDI in MBRT: Traders tell govt
24
Jun '13
The Government should retain its stand on the clarifications issued with regards to foreign direct investment (FDI) in retail, and should not relax any of the conditions under any pressure whatsoever, Confederation of All India Traders (CAIT) has said in a letter to Commerce and Industry Minister Anand Sharma.
 
Earlier this month, in response to queries of global retailers, the Department of Industrial Policy and Promotion issued clarifications stating that 50 percent of the sum that the foreign retailers invest in India through the FDI route should go to back-end infrastructure, and the funds spent to acquire the outlet chain shall not be considered as investment. 
 
CAIT said that to serve their individual interest, global players and domestic corporate players are trying to build pressure on the Government to ease the aforesaid conditions. 
 
“It appears that these retailers are seeking clarification that 50 per cent back-end investment has to applicable only for initial investment of USD 100 million. If this concession is agreed to, it will totally go against the promise made by you in the Parliament at the time of approving FDI in multi brand retail,” the letter stated.
 
The CAIT statement said the association has been strongly opposing the entry of FDI in multi-brand retail in India.
 
The Association website negates the Government’s claim of creation of four million direct job opportunities in the country within three years of the entry of retail, and calls it as highly impractical.
 
“Global experiences of organized retail have clearly shown that instead of creating employment, Mega Retail Corporations actually reduce employment,” CAIT says on its website.
 

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 20th May 2022

China reiterates call for tariffs cut after US official’s statement

After US treasury secretary Janet Yellen called for tariffs cuts on...

Pic: Shutterstock

Textiles | On 20th May 2022

World economy projected to grow by 3.1% in 2022: UN

The world economy is projected to grow by 3.1 per cent in 2022,...

Pic: Shutterstock

Textiles | On 20th May 2022

Lowering logistics costs key to Vietnam’s export competitiveness

Reducing logistics costs is crucial to raising competitiveness of...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Strongly believe in 'people first' policy.

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Sustainable and eco-friendly fibres remain in the minority

J Vargas,

J Vargas

With a vision to be the world's top tier textile manufacturer, Badjatex...

Henry Krause,

Henry Krause

<font color="#333333" face="Arial, sans-serif">Polygiene is a market...

Rajat Kapoor,

Rajat Kapoor

Seraphine is a British maternity brand providing affordable luxury fashion ...

Asif Rahman, MIP

Asif Rahman
MIP

MIP is a manufacturer and distributor of high-performance textiles and...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

Chun-Yuan Jean, Label - C JEAN

Chun-Yuan Jean
Label - C JEAN

C JEAN is an independent designer brand founded by Chun-Yuan Jean. C...

Timna Weber, Label - Timna Weber

Timna Weber
Label - Timna Weber

London-based sustainable high-end eponymous womenswear label, by designer...

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

Leave your Comments

ESTEEMED CLIENTS

John Varvatos
Tchibo GmbH
Haelixa AG
TEXVALLEY MARKET LIMITED
THE BOMBAY DYEING ;& MFG.CO. LTD
Nihalani Events Management
Vianney Textil Hogar S.A. De C.V.
Weitmann & Konrad GmbH & Co. KG
USTER
Sateri (Jiujiang) Fiber Co.,Ltd
Rayonese Textile Inc., Division de Culp Inc.
Performance Days
Alison Hayes Romania
The LYCRA Company Singapore  Pte. Ltd
Istanbul Fuarcilik A.S.
Esprit Europe Services GmbH
Etam Group Strategy Hong Kong Limited
FULGAR SpA
Gloria Jeans
Lenzing Aktiengesellschaft - India
Thai Trade Center
Decathlon
DyStar India Pvt. Ltd
Taiwan Textile Federation (TTF)
Lisa S.P.A.
Savio Macchine Tessili S.P.A.
Lifestyle
Nandan Denim Limited
TÜYAP IHTISAS FUARLARI A.S.
Loris Bellini S.r.l.
G.A.S. unternehmenskommunikation gmbh
Walmart
Brandix Lanka Limited
The Top Form Brassiere Manufacturing Company Limited
Guess Europe Sagl,
Lenzing Aktiengesellschaft
International Textile Manufacturers Federation
Applied DNA Sciences Inc
BIANCA
GIOVANNI BOZZETTO S.p.A.
Target Corporation (MN)
Itema Weaving (India) Private Limited
Tradewind International Servicing
China World International Exhibition Company Limited
Chico’ FAS
Permoda(Koaj/Armi/Pronto/Bkul)
Eastman Chemical Company
Grasim Industries Limited
Desigual - ABASIC, S.A.
Comasia Limited
Groz-Beckert East Asia LLP
Helly Hansen Far East Ltd
Shanghai  Aige Exhibition Service Co., Ltd
Babyshop
Jiangsu Yingyang Nonwoven Machinery Company Limited
JES MEDIA, INC
Gokaldas Exports Limited
Hirdaramani International Export Private Limited
Officina Meccanica Dora Enrico Srl
J ;& P Coats
Splash
Zünd Systemtechnik AG
G-Star Raw C.V.
X-Rite Asia Pacific Limited (HK)
Page Industries Limited (Bangalore)
VNU Exhibitions Asia
GHCL LIMITED
Saurer Textile Solutions Pvt. Ltd.
Marzoli Machines Textile s.r.l.
Sportswear Company Spa
Color Service s.r.l.
NV Michel Van de Wiele
Thai Acrylic Fibre Company Limited
Chori Company Limited
Lululemon Athletica Inc
Lectra Technologies India Pvt Ltd.
N9 World Technologies Private Limited
Reiter India Private Limited
DuPont de Nemours, Inc.,
Truetzschler India Private Limited
Thermore (Far East) Ltd.
Messe Duesseldorf
Kornit Digital Asia Pacific Ltd
OVS Hong Kong Sourcing Ltd.
BTC Textiles LLC
Meera Dyestuff Industries
MAS Active / MAS Kreeda / MAS Bodyline
Alix Partners
Italian Trade Commission
Colours India Inc
Kern – Liebers Textile
EMBEE CORPORATION
UBM China (Shanghai)
Woolmark Services India Pvt. Ltd.
Aleph Srl
Asos
EUROVET ASIA LTD
H;&M Hennes ;& Mauritz (Far East) Ltd
Recron Polyester from Reliance Industries Limited
Hela Clothing Pvt Ltd
Flainox S.r.l.
Boardriders Asia Sourcing Limited
Zydex Industries
Tory Burch Hong Kong Ltd
Eurofins BLC Leather Technology Centre Ltd
Gatsby Africa
The LYCRA Company Singapore  Pte. Ltd
K AND D ITMACH EXPOSITIONS LLP
Landmark Group
Equinox Impex India
IIGM Private Limited
Mayer & Cie. GmbH & Co. KG
Xtema - Thomas Lebherz Textilmaschinen
Under Armour Global Sourcing Ltd
Lacoste (Wanchai)
Centric Software
SHAHI Exports Pvt Ltd
Varner AS Retail
APLF Limited
IKEA of Sweden AB
Datatex Consulting Srl
Copenhagen Fashion Summit
PVH Corporation
Brückner Trockentechnik GmbH & Co. KG
EPCH
Midas Clothing Limited
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
C;&A Sourcing International Ltd
Groz-Beckert KG
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Mesdan SPA
NITI Aayog
Huntsman (Singapore) Pte Ltd
Seasalt Limited
SYNERGIES HONG KONG LIMITED
TESCO INTERNATIONAL SOURCING LIMITED
BRINKMANN GMBH
Shima Seiki Mfg. Ltd.
FESPA (Reigate)
Infor (Hong Kong) Limited
Aquarelle Clothing Limited
Karl Mayer Textilmaschinenfabrik GmbH
KAS Direct Sourcing
Stahl Holdings B.V.,
Rosset ;& Cia Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Tommy Hilfiger
Bluesign Technologies Ag
CSGIA(China Screen Printing & Graphic Imaging Association)
T.T. Limited
Dow Silicones Corporation
Abit
IDH – The Sustainable Trade Initiative
Indofil Industries Limited - Specialty & Performance Chemicals Division
Recron Polyester from Reliance Industries Limited
Coats Digital Limited
SUZHOU TUE HI-TECH NONWOVEN MACHINERY CO.,LTD
KIABI
Aramark Uniform ;& Career Apparel, LLC
Rieter India Private Limited
Tuyap Tum Fuarcilik Yapim A.S.
Inter Expo Center Ltd.
Sainsbury's Argos Asia Limited
Gap International Sourcing Limited
Puma
Cat Tuong Real Estate Group Joint Stock Company
Bluestem Global Sourcing Limited
Sportmaster Ltd.
Pt. Peraga Nusantara Jaya Sakti
LC Waikiki
Lottmann Communications
Messe Frankfurt Exhibition GmbH
Green Fibre
ITMA Services Pte Ltd
Jindal Worldwide Limited
International Sourcing Expo Australia
COTTON COUNCIL INTERNATIONAL
BIMBA ;& LOLA SL
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Newtech Textile Technology Development (Shanghai) Company Limited
Vardhman Textile Ltd
CGS Inc.
Datacolor AG Europe
Amazon China
Indo Tex
TESTEX AG, Swiss Textile Testing Institute
Arvind Limited
Benetton Group
ZAITEX spa
GERBER TECHNOLOGY LTD.
Restoque S.A.
Phong Phu international JSC (PPJ)
IFF Media Ag - International Media Services
H. Stoll AG & Company KG
Calvin Klein
BTSR International S.P.A.
Maceton Limited
Palexpo SA

May 2022

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


Advanced Search