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13 August 2012

Traders observe Quit FDI Day in India

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IMO News Service

While lodging its strong protest against FDI in Retail, the Confederation of All India Traders (CAIT) observed today (August 9) – the day of Quit India Movement as Quit FDI Day across the Country by holding Dharna, Demonstrations and burning of effigy of FDI in nearly 60 cities in different States of the Country. The protestors shouted slogans like "Videshi Poonji Nahin Videshon Main Jama Bhartiya Poonji Chahiye", "Khudra Bazar Main Videshi Nivesh Gulam Banega Apna Desh", "Videshi Compania Aayengi Mehngai Dahej Main Layengi". While registering their loud protest, the CAIT termed the FDI in Retail as a step forward to economic slavery. The CAIT has demanded the Government to bring out a White Paper on the need of FDI in Retail.

Nearly 3,500 Trade Federations and Associations took part in today's protest which includes cities like Mumbai, Chennai, Banglore, Hyderabad, Nagpur, Raipur, Jammu, Jaipur, Rourkela, Ranchi, Bhopal, Surat, Jamnagar, Chandigarh, Ghaziabad, Jhansi, Kolkata, Raniganj, Asansol, Bilaspur etc.

CAIT National President B. C. Bhartia while pointing out a question on the repeated statements of Union Commerce Minister for arriving at consensus on this issue said that yesterday in the Parliament Union State Minister for Commerce Jyotiraditya Scindia has informed that so far only four States and Union Territories have consented their support to FDI in Retail which includes Delhi, Manipur, Daman & Div and Dadar and Nagar Haveli out of which only Delhi is eligible for FDI in Retail as per proposed policy of the Govt since it has population more than 10 lacs. He further said that even the UPA led States have not expressed their support so far. Under such conditions the repeated Statements of Union Commerce Minister and other people in the Government amply reflects some kind of hidden pressure on the Government which needs to be elaborated.

CAIT National Secretary General Praveen Khandelwal said that statement of Anand Sharma that it is the prerogative of the States to allow FDI or not is misleading. The Government of India has signed Bilateral Investment Agreement with 82 Countries as on 9th December 2011 in which a standard feature is that they accord National treatment to foreign investores. The effect of National treatment is that Govt of India can not put any conditions on Foreign Investores which are not applicable to Local Investores. Therefore, it is the Central Government and not the States which is responsible for the policy.

The CAIT has demanded that the Government should bring out a White Paper on need of the FDI in Retail and the unanimous report of the Parliamentary Standing Committee should be discussed inside and outside the Parliament.

For more information please contact CAIT, Secretary General, Mr. Praveen Khandelwal@9891015165, 9310199771

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