CAIT Protests Against FDI in Retail.

The Confederation of All India Traders (CAIT) staged a dharna at Jantar Mantar in Delhi to protest against the proposed move of the union government to allow entry of global retailers into retail trade through Foreign Direct Investment.

The traders' body demanded that the government imposed a blanket ban on the entry of multi-national companies and big corporate houses into retail trade and cited the recommendations of the parliamentary standing committee on commerce which raised reservations on allowing the FDI in retail.

The CAIT charged the government with entering into a conspiracy with certain vested interest groups for granting approval for the FDI in retail. “It is crony capitalist lobbying aiming to monopolise the existing retail trade by global retailers and big corporate houses,” charged the CAIT.

The protesters at the dharna sealed their mouths with surgery masks on which anti-FDI slogans were inscribed which they said signified that once MNCs were allowed in retail trade, the existing retailers would be forced to shut their business.

Source : fnbnews.com