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Confederation of All India Traders calls for Bharat Trade Bandh tomorrow
Confederation of All India Traders CAIT gave a call for Bharat Trade Bandh on Friday in protest against the attitude of foreign, multinational retailing business firms which pushed the small and medium businessmen into deep troubles
Tirupati: Confederation of All India Traders (CAIT) gave a call for ‘Bharat Trade Bandh’ on Friday in protest against the attitude of foreign, multinational retailing business firms which pushed the small and medium businessmen into deep troubles.
These foreign firms which were in manufacturing sector in the country have been providing huge discounts to multinational business establishments in all cities and towns and encouraging them in retail sector due to which the local small business men and the staff working with them were losing their livelihood.
Fast Moving Consumer Goods (FMCG), Medical, Electronic products manufacturing companies were giving mega discounts to big chain business firms like D-Mart, Reliance, Big Bazaar etc., and directly supplying the goods to them.
This has been leading to huge price difference between them and small retailers. Under these circumstances, CAIT demands the Central government to stop the Walmart deal, abolition of 100 per cent FDI permissions, introduction of only two slabs in GST and introduction of accidental insurance to every GST registration trader.
They were also demanding penalties in GST Act should not be above Rs.10,000 and income tax exemption should be raised to Rs.5 lakhs, said the President of Tirupati Chamber of Commerce, A Manjunath. To take their demand to the notice of central government and protesting its policies, all business people will observe bandh on September 28, he said.
