New Delhi, Dec 13 (KNN) The Confederation of All India Traders (CAIT) strongly and highly condemn the demand of national level association for supporting 100% FDI in multi brand retail.

While releasing a report on National Retail Policy, the Confederation of Indian Industry (CII) had sought allowing 100% FDI in multi brand retail.

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal said that CII is the organisation of big players and retail trade is not its core constituency and therefore it has no locus standing to poke its nose into retail trade of India.

FDI in multi brand retail is a crucial issue affecting livelihood of crores of people in the Country and as such passing remarks are not warranted at all, said CAIT.

"We will leave no stone unturned in ensuring that FDI in Retail is not allowed," said both Bhartia & Khandelwal adding that who so ever advocate FDI will have to face the ire of the traders of the Country.

CAIT along with crore small businesses will strongly oppose any move of allowing FDI in Retail.

As far as linkage of modernisation of retail trade is concerned as spelled out by CII, it is all the more necessary for the Government to draft a policy and parameters and provide assistance to traders in upgrading and modernizing their existing retail trade format and traders are capable enough to adopt and accept it, the traders body said.

"We do not want sermons or recommendations of anybody," said Bhartia and Khandelwal. (KNN Bureau)