TRADERS TO TAKE political parties head-on on FDI in retail

Mumbai, February 1, 2013: While expressing their determination to block FDI in Retail under any circumstances, the Confederation of All India Traders (CAIT) which is spearheading a nationwide agitation against the controversial issue, today posed a greater threat to Indian political system by linking the issue of FDI in Retail with Vote Bank.

CAIT National Secretary General Praveen Khandelwal while addressing a meeting of traders at Mumbai today made it very clear that forthcoming Assembly and General Elections will be an acid test for the political parties as traders across the country have decided to convert themselves into a Vote Bank and all such political parties who are supporting FDI in Retail will be opposed tooth and nail at every polling booth of 543 parliamentary constituencies. The formal announcement will be made on February 3 at Mumbai when National Core Committee of CAIT will meet to draw out an effective strategy plan to counter moves of FDI in Retail. The CAIT Core Committee will also decide about joining hands with Trade Unions in their Bharat Bandh call on February 20-21.
More than 5 crore business establishments are operating their business activities in retail sector and providing livelihood to more than 22 crore of people having an annual turnover of about Rs. 20 lakh crores contributing more than 15% to national GDP.
As a depiction of show of their strength the CAIT in association with “Khudra FDI Virodhi Rashtriya Morcha”(KFVRM) has called for a massive “Save Retail Democracy Rally” on forthcoming March 7 at New Delhi, said Praveen Khandelwal, National Secretary General, CAIT. It is the CAIT which has credit to bring two diagonally opposite political groups the NDA and Left front at one platform on the issue of FDI in Retail.
Khandelwal charged the government for still misleading the country by saying that the FDI in Retail policy is now in finality as both the houses of Parliament has approved the policy which is factually incorrect. The FDI policy in question can attain legal status only when the Rajya Sabha approves the amendment proposed by the Reserve Bank in rules and regulations of FEMA Act. When an issue is pending before the Rajya Sabha and whose approval is mandatory under section 48 of the FEMA Act, how can the government claim that the policy is final.
The Government has messed up the whole issue but the CAIT is committed to oppose stoutly in the larger interest of the nation.