New Delhi: A traders` body on Wednesday welcomed the government decision to put the controversial move on FDI in retail on the backburner till a consensus is evolved, saying political supremacy over bureaucracy has been established.
Confederation of All India Traders (CAIT), which claims to have over 10,000 traders` bodies as its members, said it "rejoiced" the decision announced by the government at an all-party meeting this morning.
"The decision has established the supremacy of political leadership over bureaucracy," Praveen Khandelwal, Secretary
General of CAIT, said.
The CAIT-affiliated bodies had last week called an all- India bandh to protest the government decision to allow 51 percent FDI in multi-brand retail. The bandh was supported by parties like BJP, SP and the Left.