Traders' Forum oppose Wal-Mart entry into India
Opposing the entry of retail giant Wal-Mart into India under an agreement with Bharti, Delhi traders on Tuesday alleged it was an attempt to capture domestic trade of the country, which has been left "totally unprotected".
By PTI |
NEW DELHI: Opposing the entry of retail giant Wal-Mart into India under an agreement with Bharti, Delhi traders on Tuesday alleged it was an attempt to capture domestic trade of the country, which has been left "totally unprotected".
"The Foreign Direct Investment in retail sector will prove to be much detrimental to the interests of internal trade of the country, which is contributing about 70 per cent to the national exchequer," Confederation of All India Traders (CAIT) General Secretary Praveen Khandelwal said.
"The agreement of Wal-Mart and Bharti is the outcome of decision of Union Government to allow 'Single Brand Retailing' and removal of 'FIPB approval for Cash and Carry Wholesale'", Khandelwal said and termed it as the most devious means adopted by the government for allowing foreign retailers into the country.
"Stores like Wal-Mart being quite in large numbers across the world will source will source products of lower quality from any part of the world because of their giant size and will dump products in their country," he said.
"The Foreign Direct Investment in retail sector will prove to be much detrimental to the interests of internal trade of the country, which is contributing about 70 per cent to the national exchequer," Confederation of All India Traders (CAIT) General Secretary Praveen Khandelwal said.
"The agreement of Wal-Mart and Bharti is the outcome of decision of Union Government to allow 'Single Brand Retailing' and removal of 'FIPB approval for Cash and Carry Wholesale'", Khandelwal said and termed it as the most devious means adopted by the government for allowing foreign retailers into the country.
"Stores like Wal-Mart being quite in large numbers across the world will source will source products of lower quality from any part of the world because of their giant size and will dump products in their country," he said.
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