Traders’ Bandh remains total

Source: The Hitavada      Date: 29 Sep 2018 13:07:45


 

Staff Reporter,

Traders kept their shops closed on the call of Confederation of All India Traders (CAIT) in Bhopal on Friday. Shutters of shops were down as the traders are protesting against Foreign Direct Investment (FDI) in retail and against the deal between Walmart and Flipkart etc. Traders fear that if FDI enters in retail and deal between Walmart and Flipkart is not cancelled then foreign companies will dump their cheap products and will start selling through e-commerce.

This will affect several medium traders and they may even be left jobless. State President of CAIT Kailash Agrawal while talking to ‘The Hitavada’ said that traders observed Bandh. The Bandh call was to oppose FDI in retail and cancellation of deal between Flipkart and Walmart.

“There is fear that if demands are not addressed by the Government then foreign companies will start dumping their cheap products and this will have a cascading effect on middle class traders,” he added. He also cited reasons behind costly Indian products by telling that in foreign countries, electricity charges are nominal while in India, electricity charges are more and this reflects in prices of commodities.

Moreover, traders and industrialists get money at the rate of 1 per cent and 2 per cent, while in India borrower has to pay 12 to 13 per cent interest rate and hence products become costlier. Owing to all these reasons, Indian products are unable to compete. Throughout the day, shops remained closed in maximum parts of the State capital. People wandered from one place to another to purchase their necessary household items and other things.