Financial Daily from THE HINDU group of publications
Tuesday, Oct 19, 2004

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Industry & Economy - Foreign Direct Investment


Traders oppose FDI in retail

Our Bureau

New Delhi , Oct. 18

EXPRESSING concern over the growing dominance of multinational companies in the country's Rs 60,000-crore retail business, traders have warned that any move to increase foreign direct investment in the retail sector would ruin the business of small and medium traders scattered over the country.

"We unanimously oppose foreign direct investment in retail business and urge the Government to draw certain standards for multinational companies for their operations here, so that Indian retail trade may not go into their clutches," the Confederation of All India Traders (CAIT) Secretary General, Mr Praveen Khandelwal, was quoted in a press statement.

CAIT is the apex body representing the interests of the trading community. Mr Khandelwal said it was a serious matter for the survival of small and medium traders of the country and a memorandum on the issue will soon be handed over to the Government.

Mr Khandelwal said CAIT was organising a national seminar with leading trade federations, associations and merchant chambers.

More Stories on : Foreign Direct Investment | Retailing

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page



Stories in this Section
`US, European cos look more at China than India for outsourcing'


Toeing Ohio line on outsourcing
Career Launcher bets big on EPO
Making a case for training for judges
Tuticorin Customs H1 revenue up 31%
Cell to address FTA misuse
`Need to know Japan's culture to further ties'
Apollo Hospitals plans e-magazine
Doubts over Cox-2 anti-inflammatory drugs loom large
Vizag to get super-speciality hospital
UAE not to hike petrol price now
CII meet on captive power tomorrow
Review of duty on steel-making input likely
`Posco's Orissa project plan hinges on infrastructure'
Revised treaty with Malaysia widens tax ambit
Whither the technological development Plan?
EU readies 7-point action plan to enter post-quota regime
SSIs seek more support to take part in global fairs
`Dip in Chinese rubber consumption may benefit Indian tyre cos'
Panel to study plans for coal linkages with industries
XLRI Jamshedpur to forge ties with Oman
Centre's pat for SIET
Govt revises limit on house building advance
Construction expo in Jan
Nasscom to go aggressive on Japanese market
Apparel exports up 16% in first half
Rough ride
No bias against FDI plans: Buddhadeb
Traders oppose FDI in retail
Food-for-work rice misused by previous Govt, says Rosaiah
Travel concession for youth
PM sets up panel on rural infrastructure
Mass poverty can be removed only if S&T reaches villages: PM
`Glitter'ati
AP pavilion allotment
`Simergence 2004' tomorrow
CBDT clarifies on provisional attachment of property
Ministry plans to approach Special Court for Harshad tax dues
Finance Ministry clarifies on palm oil imports — Consignments not meeting carotenoids norm to attract 75 pc duty
Ayurveda majors in jt venture for common brand
Ministry appoints Nandwani as new ED for Capexil



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line