Nagpur: The decision of the Govt to allow 100 % FDI in single brand retail and that too through automatic route where no permission of the Govt is required will open flood gate for MNCs to overpower Indian retail trade and that too at the cost of domestic trade. The Confederation of All India Traders (CAIT) has decided to strongly oppose this hasty decision of the Government which will have vital bearing on livelihood of crores of small businesses in the Country. The Government has taken the decision without considering its impact on India’s existing retail trade.
To carve out a future strategy on this issue, the CAIT has convened a meeting of prominent Associations of different verticals of retail trade including farmers, hawkers, transporters, small Industries, Consumers, self employed groups, women entrepreneurs & others on 16th January at New Delhi.
CAIT National President Mr B C Bhartia & Secretary General Mr Praveen Khandelwal while expressing utter dismay said that 100 % FDI in single brand -automatic route will kill domestic manufacturing sector and will give a big jolt to Make in India ?? !! It’s a harsh move against small traders but Who cares for domestic traders -sad !! With this step there will be quite absence of level playing field , soon , anything ‘ made in India ‘ will not be available in India !! The foreign brands will dump their junk here !
It is rather more sad that the set of people making forceful arguments against FDI in retail from 2010 to 2014 became instrumental in bringing FDI in Retail this time.
Both Mr Bhartia & Mr Khandelwal said that this decision is step towards allowing FDI in Multi Brand Retail. India is a consumer driven economy. Govt is unable to provide employment hence only source of employment is self employed. People literate, illiterate, rural or urban all get employed in retail trade.With small working capital and limited space traders are conducting their business operations.