Published On : Mon, May 18th, 2015

Any move to bring FDI in retail will be opposed tooth and nail: CAIT

CAIT demands Government to withdraw retail FDI notification


“The recent adoption of FDI policy by Union Government retaining permission of 51 percent FDI in Multi Brand Retail is unacceptable to trading community of the Country and as such we call upon the Government to withdraw this policy in pursuance of the assurances and declarations made by senior BJP leaders prior to General Elections-2014,”said the Confederation of All India Traders (CAIT).​ The CAIT has also demanded suspension of any move to allow FDI in E Commerce as well.​ A National Trade Policy for Retail Trade should be formulated and a separate Ministry of Internal Trade is set-up to look after domestic trade in India-said CAIT.

While agreeing with the constant stand of BJP opposing FDI in Retail, CAIT National President B. C. Bhartia and Secretary General Praveen Khandelwal recalled that on December 5, 2012, the then Leader of Opposition in Lok Sabha Sushma Swaraj and on December 6, 2012, the then Leader of Opposition in Rajya Sabha Arun Jaitley while participating in a Parliamentary debate strongly opposed the notification in question and demanded the Government to withdraw the same. Senior BJP Leader Dr. Murli Manohar Joshi also raised the same demand in the House.

Later, on March 7, 2013, while participating in a Rally at Ramlila Ground, New Delhi, the then BJP President Rajnath Singh categorically declared that in event of BJP coming into power, the FDI notification will be withdrawn.

The FDI notification is an executive order of the Government which can be withdrawn or amended by the Government at any time and there is no need of obtaining concurrence of the Parliament. Therefore, the Government was under obligation to honour the commitment made by none other than the BJP President. The traders across the Country are deeply saddened to note that the notification which was strongly opposed in year 2012 has been taken as a policy by the Government.

The argument of Commerce Minister Nirmala Sitharaman that it is a compendium cannot be accepted since it was an occasion for the Minister to withdraw the notification in pursuance of BJP manifesto for last year’s Lok Sabha elections that “barring the multi-brand retail sector, FDI will be allowed in sectors wherever needed for job and asset creation, infrastructure and acquisition of niche technology and specialized expertise”.

The CAIT has appealed the Commerce Minister to take steps to withdraw the said notification in pursuance of policy of the BJP. This was informed by National Secretary General Confederation of All India Traders Praveen Khandelwal.