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Bhagwati has no idea about the ground reality: CAIT

BJP’s traders’ body, Confederation of All India Traders (CAIT) on Thursday alleged that by backing FDI in retail sector in India ‘American economist’ Jagdish Bhagwati is actually serving the interest of multi-national companies of USA.

“It’s surprising that the 80-year-old professor who lived away from India for over 45 years is advising the Prime Minister on such a crucial issue,” said Praveen Khandelwal, secretary general of CAIT.

“Foreign educated economists have ruined the interest of Indian traders and businessmen. They only serve the interest of foreign countries. Such a statement to push for FDI in retail days before visit of USA President Barrack Obama in India reveals his real interest,” he added.

He further added that a man who has no real knowledge of India on the ground is expressing a view on how the PM should think on the subject. “He is hell bent to spoil of decades of struggle. He doesn’t know in which conditions we do our businesses in this country,” he added further.

The national president of CAIT B C Bhartia said FDI in retail is a vital issue which has a bearing on the livelihood of crores of farmers, small industries, traders and other businesses in our country.
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