While foreign direct investment (FDI) in multi-brand retail awaits Cabinet approval, traders say they are gearing up to serve customers better. Addressing a national workshop on retail, the Confederation of All India Traders (CAIT) urged retailers to upgrade and modernise.
CAIT has always opposed foreign direct investment in the retail space and had urged participants from 20 states for on Wednesday’s workshop. The association also announced the start of the ‘Protect Retail Democracy Month’ till October 15 and said it would issue a memorandum to the President during this period. It would also launch a ‘national signature campaign’ to protest against the opening up of the retail sector.
I am certain there will be no FDI in multi-brand retail,” said Praveen Khandelwal, secretary general, CAIT. The 2014 General Elections are not far off, he reasoned, and the government cannot afford to lose the votes of 200 million traders.
As part of its initiative to help traders upgrade their existing stores and strategies, the association will open retail schools in 60 cities to educate traders on various subjects. “We have tied up with companies in Mumbai to get their expertise. Pilot projects will be launched in Nagpur during the Navratri,” said Khandelwal.
The one-week course of 16 hours will focus on product range planning, display system, consumer approach, shop security system and maintaining dignity, among others. The association is in talks with banks to provide easy loans to traders. “We are also planning a tie up with architects in various cities across the country, to help traders improve the interiors and add glamour to their shops,” said Khandelwal.
http://www.business-standard.com/india/news/retail-trade-body-opposes-fdi/448479/