Traders no to FDI in retail e commerce

New Delhi, June 25, 2014: In a unanimous resolution adopted today at the second day of two days conference of National Governing Council of the Confederation of All India Traders (CAIT), trade leaders of the Country demanded the Union Government not to take any hasty decision on allowing FDI in Retail E Commerce since it is a very sensitive issue connected with crores of brick and mortar shops across the Country. The resolution further says that there is absolutely nothing in this sector that warrants any FDI at all. In fact, this new sector is a challenge which our new entrepreneurs can and should take as the entrepreneurial, technological and commercial means are available aplenty in the country. The conference was chaired by CAIT National President B. C. Bhartia and was attended by more than 200 trade leaders across the Country.

Trade Leaders at the Conference decided to hold a " Save Retail Democracy Rally" on August 9, the day of Quit India Movement, at New Delhi which will be attended by trade leaders across the Country whereas on the other hand from 1st July, 2014 to 15th August,2014 a national campaign under the name of " Retail Vyapaar Samruddhi Abhiyan" with a standing demand of strengthening the retail trade and to ensure its upgradation and modernisation. During the period of campaign, the CAIT will submit its 10 point memorandum to Prime Minister, Finance Minister and Commerce Minister beside senior leaders of different political parties. More than 20thousand trade associations and federations will be associated with the campaign. The trade associations will also hold State level Conferences in different States and Cities of the Country to espouse the cause of the trading community.

Taking a step ahead on retail e commerce, the Conference urged the Union Government to encourage marketplace model in e commerce and the Government should formulate a policy under which the traders should be encouraged to use marketplace model as an additional tool for generating more business. The Conference made it clear that the inventory model in e commerce is not acceptable to the traders of the Country since it will provide ample opportunities to global e commerce companies to control and dominate Indian retail trade.

The Conference also reminded that on 27th February,2014 while inaugurating Traders National Conclave, present Prime Minister Narendra Modi asked the traders not to have any fear from global challenges but rather face them but he also advocated that the capacities and capabilities of the Indian traders needs to be enhanced. The Conference has expressed hope that the Union Government under the leadership of Narendra Modi will bring a policy to ensure time due reforms in retail trade.