New Delhi, May 25 (KNN) The contradicting statements of Union Finance Minister Arun Jaitley and Commerce Minister Nirmala Sitharaman has created lot of confusion amongst the trading community of the country, traders body said.
 
Traders’ body, Confederation of All India Traders (CAIT) has urged the government to scrap the policy of 51 per cent FDI in multi-brand retail sector.


"The contradictory statements of Finance Minister Arun Jaitley and Commerce Minister Nirmala Sithraman on FDI in Retail notification have created a peculiar situation in as much as it has generated a lot of confusion amongst trading community of the country," CAIT said in a statement today.

Representatives of CAIT would soon meet Jaitley and Sitharaman raising their demand for repealing of the 51 per cent FDI notification, it added.

"Continuation of said notification as a policy of the present Government has no logic since the same notification was bitterly opposed by BJP and other NDA coalition partners," the trade body added.

It further said that there was an urgent need for National Trade Policy for retail to structure the sector. (KNN Bureau)