CAIT hails Supreme Court observations made on FDI in retail notification

KOLKATA: The Confederation of All India Traders ( CAIT) has hailed the observation of Supreme Court made today on notification of allowing FDI in retail that it lacks legal sanction.

According to CAIT secretary general Praveen Khandelwal, the said notification not only lacks legal sanction but also suffers from other legal and important infirmities.

CAIT national president B. C. Bhartia said that the government issued the notification on the basis of incorrect facts and figures and did not take into consideration the ground realties of Indian Retail Trade. Bhartia also said that if need arises, the CAIT will not hesitate to seek justice from the Supreme Court.

"The notification in question gives large benefits to MNCs which are even not available to domestic companies in any trade," he added.