CAIT REJECT GOVT PANEL RECOMMENDATION OF RAISING FDI CAP IN RETAIL

The Confederation of All India Traders (CAIT) has today rejected the recommendation of Arvind Mayaram panel for hiking FDI cap in multibrand retail from existing 51% to 74% terming it as an attempt of the Committee to succumb to the pressure of global retailers and big indigenous corporate houses. The CAIT has warned the Government not to heed to recommendation of the Government panel, else the CAIT shall be forced to launch an all India agitation against any such move of the Government. It is to be noted that the CAIT is in forefront in opposing FDI in retail and constantly demanding withdrawal of current notification of allowing FDI in retail. It has even called Bharat Bandh two times on this issue and has organised several protests where leaders of all political parties have shared common platform.

Mr. B. C. Bhartia, National President of CAIT and its National Secretary General Mr. Praveen Khandelwal, in a joint statement released here today strongly criticized the recommendations of the Government panel and alleged that the recommendations are not based on the ground realities of Indian retail trade. The CAIT regretted that merely by sitting in air-conditioned rooms, the report is being prepared to grant maximum benefits to the global retailers at the cost of crores of farmers, traders, labourers, small industries, hawkers, self employed sections etc.

Both Mr. Bhartia and Mr. Khandelwal questioned the logic of the report of the government panel on the pretext that a Group of Ministers (GOM) has been constituted by the Cabinet to understand the impact of 51% FDI in Retail under the Chairmanship of Food & Civil Supplies Minister Mr. K. V. Thomas and so far the GOM has not even consulted the stakeholders and in the meantime the government panel has submitted its report. It is nothing but a contempt of the GOM. Even the Parliamentary Standing Committee on Industries is also studying the impact of FDI in Retail on small industries and it has also not submitted its report. Therefore, the report of the Mayaram panel seems to be a calculated attempt of the vested interest people. It is interesting to note that even the Mayaram panel has not consulted the retail stakeholders on this issue which gives rise to believe that the report is orchestrated.

Mr. Bhartia and Mr. Khandelwal has demanded the Government to make public the said report of the government panel and has also demanded to reject the said recommendation of the Mayaram panel. (PRESS RELEASE)