Traders body CAIT has joined hands with global e-commerce major eBay to upgrade, modernise and train domestic retailers to use online market place as an additional tool for expanding their business.
The Confederation of All India Traders (CAIT) and e-bay will tomorrow announce the details of their partnership.
Interestingly, CAIT has been strongly opposing allowing foreign investment in the Indian retail sector.
"CAIT and eBay have entered into a Memorandum of Understanding for working jointly to upgrade and modernise the Indian retail trade, advancing the skills of Indian traders and promoting them to use online market place as an additional tool for expanding their respective business," CAIT said in a statement.
There are about six crore business enterprises in the country in retail trade, it said.
The government has permitted 51 per cent FDI in the multi-brand retailing sector.
In its election manifesto, the Bharatiya Janata Party (BJP) has said that it would promote foreign investments but said no to FDI in multi-brand retail.
