Traders praise CM opposition to FDI
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The protests against the Centre’s decision to implement 51 per cent FDI in multi-brand retail sector has snowballed in the state.
Trade and industry circles have praised the chief minister J. Jayalalithaa’s announcement of not allowing FDI in the state and many traders’ associations and even milk dealers associations have pledged to support the Bharat bandh on Sept. 20.
“The chief minister’s announcement has come as a consolation for us. FDI should not be permitted in the retail sector in the interests of the traders and public,” said T. Vellaiyan, president of Tamil Nadu Vanigar Sangankalin Peravai.
Flaying the Centre for permitting FDI, he said trade and commerce was as vital the nation’s vibrant economy and independence.
Allowing FDI in the country tantamounted to mortgaging the country.
About 1.5 lakh members of the Tamil Nadu Milk Dealers Welfare Association would also participate in the bandh.
“However, for the benefit of children and elders, we will sell the milk till 7 am and then participate in the bandh,” says S.A. Ponnusamy, association president.
According to sources in the Tamil Nadu Chamber of Commerce and Industry the decision to allow 51 per cent FDI in multi-brand retail by the Centre was “distressing and the move is fraught with perilous consequences.”
This would wipe out the livelihood of over 4 crore small and medium traditional retailers and their 20 crore dependents in the country.
Terming the Centre’s decision as shocking , the Tamil Nadu Foodgrains Merchants Association, said FDI would prove detrimental to the interests of farmers, traders and the public.
Reform to benefit nation, says Mos
Justifying the Centre’s decision to allow 51 per cent FDI in multi-brand retail trade, Union minister of state in PMO V. Narayanasamy said it will benefit the nation.
“FDI was allowed keeping in mind the economic development of the country and the vast job opportunities it would generate,” he said.
Apart from attracting a lot of investments in several sectors, the farmers would benefit directly by this, thereby avoiding involvement of the middlemen.
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