New Delhi, Sept 28 (KNN) The Confederation of All India Traders (CAIT) has submitted a memorandum and Traders Charter to Prime Minister Narendra Modi today, urging his intervention to stop Walmart-Flipkart deal as it violates FDI Policy Press Note No.3 of 2016 of the government.

The CAIT has urged the Prime Minister to constitute a high level committee under chairmanship of any senior Minister of the government comprising of senior officials & trade representatives. 

CAIT, Secretary General, Praveen Khandelwal said “The combination may cause an appreciable adverse effect on competition as there will be an uneven level playing field & adoption of predatory pricing, deep discounting & loss funding will wipe out small businesses and small domestic manufacturing.”

In response to a call of CAIT for a Bharat Trade Bandh against Walmart Flipkart deal & FDI in retail, the commercial markets across the country are closed today, depicting the anguish & resentment of the traders. 

About 7 crore business establishments and more than 40 thousand Trade Associations & Federations all over the Country are participating in the Bandh today, said CAIT.

As per an estimate for days Trade Bandh there is a loss of business to the tune of Rs.15 thousand crores of rupees resulting into a revenue loss of about 3000 crores of rupees to the Government.

The traders across the Country during the day will hold Dharna, Demonstrations & Protest March and later submit a similar memorandum tin the name of Prime Minister to their respective District Collector.

The CAIT will also launch a campaign today naming " Hum Bhi Voter Hain- Hamare Vyapar Ki Suraksha Kaun Karega" giving a loud message that ignorance of traders may prove to be costly as beside traders, they are voters too and having employees and other affiliates, their combined strength is about 30 crore in the country with a message that do not compel us to convert into a vote Bank and resolve our issues.

So far, the retail trade has never been on any priority though after Agriculture, it is the largest employment provider and also the largest source of revenue to the Government. Such a step motherly treatment to the traders must come to an end, said CAIT.