Notification of FDI in retail is under threat: CAIT

Jalandhar, October 14, 2012: The notification of the Union Goverment allowing FDI in Retail issued on 20th September,2012 can be reversed or withdrawn by any other Government which comes in power in next general elections-opined Praveen Khandelwal, Secretary General of the Confederation of All India Traders (CAIT).

Since it is merely an executive notification spelling out a policy and not backed by any resolution of the Parliament and if another Government comes to power, it will have equal right to bring changes in their policy and accordingly in the wake of present majority view of national and regional political parties opposing FDI in Retail, this possibility can not be ruled out-said Khandelwal.

He said that it has happened in previous years when Janta Party came to power in 1977 prior to that 100 percent FDI was allowed. The then Government asked the MNCs and others to reduce their share to 40%. Some of the Companies abide by the Government policy and ammended their hare whereas few Companies were opt to quit India.

Khandelwal said that practically all political parties barring very few have expressed their vocal opposition to FDI in Retail. Even the allays of UPA Government and those who are supporting the Government from outside are also opposing the FDI in Retail. The CAIT under the banner of "Khudra FDI Virodhi Morcha" consisting of leaders of farmers, hawkers, consumers, transport, self employed groups, cooperatives and other related sections will meet leaders of all political parties and by submitting a memorandum will request them to announce that if they come to power they will withdraw the notification. It will also demand that such an announcement should be incorporated in their respective election manifesto.

Khandelwal further said that the Government has played a game in the executive notification just for providing larger space to MNCs. What it is preaching since last November has been diluted to a great extent. Such an approach of the Government shows that how much it is concerned for a common men. He posed a question if really the Government is committed to provide cheaper goods than why it has put ban on FDI in e-commerce where the consumer has a variety to look into and can get the commodities at his door step. The Government must clarify its stand.