CAIT Opposes Governments Decision on FDI

Not surprisingly, Confederation of All India Traders (CAIT), today opposed the governments decision on allowing 26% FDI in the retail sector in India. The apprehension is expected and will follow soon more seriously with the industry grouping together shortly on this issue. Although the government has to open the sector in line with WTO agreements, it can only be delayed for a short while further beyond this point of time. And the governments decision to open the retail sector in a phased manner is the first step.

Suggestions of protecting the local traders is vague at the moment. What kind of protection can be given if we really want to open the doors in par with the other Asian economies?

Not surprisingly, Confederation of All India Traders (CAIT), today opposed the governments decision on allowing 26% FDI in the retail sector in India. The apprehension is expected and will follow soon more seriously with the industry grouping together shortly on this issue. Although the government has to open the sector in line with WTO agreements, it can only be delayed for a short while further beyond this point of time. And the governments decision to open the retail sector in a phased manner is the first step.

Suggestions of protecting the local traders is vague at the moment. What kind of protection can be given if we really want to open the doors in par with the other Asian economies?