Thousands of traders on Wednesday staged a protest rally here, demanding the Union Government to announce a policy on e-commerce and stop allowing ‘Foreign Direct Investment’ (FDI) in retail trade.
The traders also demanded the Government to bring a bill in current session of Parliament to stop sealing in Delhi or bring an ordinance soon after the current session to save the trades and traders in the National Capital.
They also said that e-commerce and FDI in retail sector has vitiated the business atmosphere in the country to a great extent since there is no check and balances of the Government.
Praveen Khandelwal, National Secretary General of Confederation of All India Traders (CAIT) while addressing the rally demanded the Government to take immediate steps to address the issues. He said that e-commerce and FDI in retail is cancerous for the retail trade of the Country which in turn will adversely affect the national economy in times to come.
Khandelwal further said sealing of business establishments in Delhi has created havoc in trading fraternity of Delhi.
The trade is undergoing in atmosphere of uncertainty and even traders from rest of the country are reluctant to come to Delhi that resulted in heavy loss.
Therefore, the Government should bring a bill in current session of the Parliament to stop sealing to protect trade in the city.
Accusing multinational companies and big corporate of adopting all kinds of unhealthy practices to capture and dominate the retail trade, CAIT National President B C Bhartia said that unchecked e-commerce and FDI in retail has wreck the bone of domestic retail trade.
In absence of any policy mechanism these Companies are free to play the game on their own terms. To rein these companies a robust e-commerce policy is need of the hour and no further permission to any sort of FDI in retail trade, he said.
Meanwhile, the traders’ body has welcomed the statement made by Prime Minister Narendra Modi advocating further rationalisation of the Goods and Services Tax (GST and to keep highest tax slab rate of 28 per cent limited up to few sin items only.
“The statement of Prime Minister Gas come at atime when the trading community is expecting more simplification of GST,” CAIT said in a statement.