Walmart-Flipkart deal: CAIT calls for ‘Bharat Trade Bandh’ on 28th

Source: The Hitavada      Date: 25 Sep 2018 09:59:56


Business Bureau,

During the Bandh, trade associations across the country will organise mass protest, demonstration, road march demanding the Govt to scrap the deal

About 7 crore small businesses across the country will participate in a ‘Bharat Trade Bandh’ on September 28 against Walmart-Flipkart deal and FDI in retail trade under the umbrella of the Confederation of All India Traders (CAIT).
B C Bhartia, National President of CAIT said, “Walmart Flipkart deal is an open violation of the FDI policy of the Government which will directly and adversely affect the small businesses in the country. The FDI in retail will prove to be much disastrous for SMEs, small industries and for national economy as well. It is highly regretted that knowing well the ill affects, the MNCs are being given a passage to enter into retail trade of India.”
He said, no steps so far have been taken to provide better business opportunities to small businesses and even in past years no effort has been made to initiate any dialogue with traders.

“On the other hand the chief executive officers (CEOs) of multi-national companies (MNCs) are being given hearing by the policy makers and power corridors. It amply reflects that the small businesses is never on any priority though the retail trade in the country amounts to whopping Rs 42 lakh crore annually,” he noted. The traders are feeling grossly neglected and highly concerned about future of their business, said Praveen Khandelwal, Secretary General of CAIT.

He also informed that on September 28 during ‘Bharat Trade Bandh’ the trade associations across the country will organise mass protest, demonstrations, road march demanding the Government to scrap the deal and not to allow any kind of foreign direct investment in retail trade. The memorandums will be given to district collectors in all the states.