Confederation of All India Traders to stage rally in Delhi on March 7

PATNA: The Confederation of All India Traders (CAIT) will stage a ViratKhudraSwarajBachao Rally at New Delhi on March 7 to oppose FDI in retail to save the 5 crore indigenous retail units across the country and 22 crore people employed in them. This was announced by CAIT secretary general PraveenKhandelwal on Saturday while addressing the members of Bihar Chamber of Commerce and Industry (BCCI).
Khandelwal said the CAIT would not only fight for the survival of indigenous traders and farmers linked to the retail market but also make it a point that the retail traders and their employees should turn themselves into a massive vote bank against the parties supporting the central government in introducing FDI in retail in the country.
He said the 5 crore indigenous retail trading units were making Rs 20 lakh crore annual trade and business to contribute 15% in the gross domestic product (GDP) of the country and it can be enhanced to 25%. But FDI in retail will cripple the indigenous retail traders by selling the goods at lower price to capture the market and, later, dictating terms in pricing the goods, Khandelwal said, adding that the foreign companies would like to control the farms of the poor farmers in the name of cooperative farming.
He said the Centre had even included the unbranded grains in the multibrand policy for allowing FDI in retail by making false claim that about 40% of the grains perish in the country and FDI would preserve them in cold storage. Khandelwal said the Indian Council of Agriculture Research (ICAR) had reported that such losses of grains was only between 0.2% and 10%.
Bpresident P K Agrawal said FDI in retail was not needed in the country. Instead, FDI in infrastructure, technology and other sectors was important.