CAIT pegs Rs 50,000 crore losses to Chinese exporters this Diwali
NEW DELHI: Trader’s body CAIT on Friday said it estimates Chinese exporters to suffer business losses worth Rs 50,000 crore this Diwali season due to its boycott call. The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period. “Like previous year, […]
Punish Amazon with Rs 1.44 lakh crore penalty: CAIT to ED
NEW DELHI:The Confederation of All India Traders (CAIT) has asked the Enforcement Directorate to immediately punish Amazon for the brazen violations of FEMA Act, Rules and Regulations by imposing maximum penalty of 3 times the value of the illegal investments of Rs 48,500 crore – a penalty of Rs 1.44 lakh crore. In a letter […]
CAIT alleges violation of FDI norms by e-commerce firms, writes to Narendra Modi
NEW DELHI: Traders’ body CAIT on Sunday wrote to Prime Minister Narendra Modi seeking “strong action” against e-commerce firms for alleged violation of FDI policy by them. It also sought setting up of an empowered regulatory authority to regulate and monitor the e-commerce business in India. In the letter to the Prime Minister, the Confederation […]
CAIT urges DPIIT to penalise Amazon, Flipkart for alleged violations
NEW DELHI: The Confederation of All India Traders (CAIT) has written to the Department for Promotion of Industry and Internal Trade (DPIIT) to take action against e-commerce major Amazon and Flipkart for alleged violation of FDI and FEMA norms. In a letter to the DPIIT Secretary, Guruprasad Mohapatra, the traders’ body said: “Our association has […]
Diwali sales at Rs 72,000 crore, amid ‘boycott’ of Chinese goods
NEW DELHI: Traders recorded sales of around Rs 72,000 crore this Diwali across major markets in the country, said the Conferderation of All India Traders (CAIT). According to the traders’ body, the business was carried on during this year’s Diwali with no Chinese goods on sale amid CAIT’s call to boycott Chinese goods. “As per […]
RBI affirms currency notes potential corona carriers: CAIT
NEW DELHI: The Confederation of All India Traders (CAIT) on Sunday said that the Reserve Bank of India (RBI) had affirmed the possibility of currency notes as potential carriers of novel coronavirus and demanded government incentives for digital payments. The development comes after CAIT wrote a letter to Union Finance Minister Nirmala Sithraman on March […]
CAIT to launch a nation-wide movement against Amazon and Flipkart
NEW DELHI: Traders’ body CAIT on Sunday said it will launch a nation-wide movement to protest against e-commerce majors Amazon and Flipkart, alleging that they are flouting FDI policy norms and destroying the country’s retail business. In a statement, the Confederation of All India Traders (CAIT) said, “Both Amazon and Flipkart still continue to sell […]
CAIT demands action against M S Dhoni for endorsing realtor Amrapali
NEW DELHI: Traders’ body CAIT on Thursday wrote to Union Consumer Affairs Minister Ram Vilas Paswan seeking action against cricketer M S Dhoni for his endorsement and advertisements promoting realtor Amrapali Group, whose registration has been cancelled by the Supreme Court. Court-appointed forensic auditors have told the Supreme Court that Amrapali Group had entered into […]