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The Confederation of All India Traders (CAIT) accused supposedly B2B operator LOTS of violating the provisions of the FDI policy for cash and carry trading by selling directly to customers for their personal consumption.
Traders’ body CAIT has demanded strict action against Siam Makro Public Company Ltd-owned LOTS Wholesale Solutions for blatantly flouting the foreign direct investment (FDI) policy.
In a complaint to the Union Minister for Commerce And Industry Piyush Goyal in July this year, the Confederation of All India Traders (CAIT) accused LOTS of violating the provisions of the FDI policy for cash and carry trading, by engaging in B2C retail trade or multi-brand retail trading and selling directly to customers for their personal consumption.
The CAIT also alleged that Siam Makro sells goods to customers who do not have…
