A trade body representing small retailers is opposing a possible government move to allow FDI in e-commerce, posing the latest challenge for newly elected Prime Minister Narendra Modi\\\'s reform drive.
A trade body representing small retailers is opposing a possible government move to allow FDI in e-commerce, posing the latest challenge for newly elected Prime Minister Narendra Modi's reform drive.
The Confederation of All India Traders, one of the country's largest trade bodies, will organise a rally on 9 August to protest against the impact of such a decision on the livelihoods of small bricks and mortar retailers.
Earlier, the government was forced to partially roll back a steep hike in rail passenger fares, aimed at reducing the country's massive subsidy bill, after protests from political allies.
The business-friendly Modi government is trying to kick- start India's sluggish economy, which has grown at below 5 per cent for two years, and win back domestic and foreign investor confidence.
India currently bans global online retailers from selling products they have sourced themselves and forces them to rely on third-party suppliers. Their Indian platforms, which they own fully, are marketplaces for these outside suppliers.
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