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Business EconomyPosted at: Sep 23 2018 6:29PM


Walmart-Flipkart deal will adversely affect small traders: CAIT

New Delhi, Sep 23 (UNI) Small businesses across the country will participate in Bharat Trade Bandh on September 28 against Walmart Flipkart Deal & FDI in retail trade under the umbrella of the Confederation of All India Traders (CAIT).
CAIT national president BC Bhartia & Secretary General Praveen Khandelwal here on Sunday said that 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 whereas 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.
Both said that no steps so far has 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 CEOs of 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 42 lakh crores annually. The traders are feeling grossly neglected and highly concerned about future of their business," they said.
During 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 FDI in retail trade. Memorandums will be given to District Collectors in all States.
UNI DJK SHK1829
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