Organizations extend support to ‘Bharat Vyapar Bandh’

STAFF REPORTER

GUWAHATI, Sept 25: All Business organizations have extended their support to the ‘Bharat Vyapar Bandh’ called on September 28 by Confederation of All India Traders (CAIT).

Talking to the reporters here on Tuesday, number of State’s business organizations said that almost 70 million people of India are directly or indirectly related with retail trade which often is referred to as the spinal cord of Indian economy. “We strongly oppose the recent acquisition of Flipcart by Walmart. We oppose the lateral entry used by Walmart to enter into the retail segment of India and called for a Bharat Bandh on 28th of September,” it said.

Stating that once cannot deny the fact that big multinationals as well as small retail both are equally important for a growing economy, the representatives of various business organizations have said, “There should be some policies in place where the multinational giants cannot take over the retail trade as with 100% FDI being implemented in the retail sector will bound to take a big hit.”