SME Times News Bureau | 24 Jun, 2015
An apex traders' body, the Confederation of All India Traders (CAIT) on Tuesday said it was not
only opposed to 51 percent FDI in multi-brand retail, but also to 100
percent FDI in e-commerce.
The CAIT has submitted its representation to the ministries of commerce, finance and consumer affairs, it said in a release.
"The
CAIT has strongly opposed not only 51 percent FDI in multi-brand retail
but is also opposing 100 percent FDI in e-commerce since FDI in
e-commerce is allowed only for B2B model whereas the e-portals are
circumventing law and making B2C sales," it alleged.
The
organisation said in its representation that FDI in retail will be
creating an uneven level playing field under which the brick and mortar
shops are at a disadvantageous position in comparison to big retailers
enjoying FDI.
