FDI in retail: Political supremacy has been established: Confederation of All India Traders

NEW DELHI: A traders' body on Wednesday welcomed the government decision to put the controversial move on FDI in retail on the backburner till a consensus is evolved, saying political supremacy over bureaucracy has been established.

Confederation of All India Traders (CAIT), which claims to have over 10,000 traders' bodies as its members, said it "rejoiced" the decision announced by the government at an all-party meeting this morning.

"The decision has established the supremacy of political leadership over bureaucracy," Praveen Khandelwal, Secretary General of CAIT, said.

The CAIT-affiliated bodies had last week called an all- India bandh to protest the government decision to allow 51 per cent FDI in multi-brand retail. The bandh was supported by parties like BJP, SP and the Left.