Traders Assn Chief call to Govt on FDI in retail

Chennai, Jan 31 (UNI) Tamil Nadu Traders Federation President T Vellaiyan today appealed to the Central and state governments to prevent the entry of foreign multinationals and Indian corporate giants from the retail sector as it would affect the concerned traders.

Participating in the Chennai Regional Conference of the federation, Mr Vellaiyan pointed out the federation organised 'Retail Trade Protection' conferences region-wise.

He said the implementation by the government of VAT, Service Tax, encouraging online trade in commodities and the establishment of Special Economic Zones only indirectly helped the big firms which ultimately destroyed the domestic retail trade which had been in existence for the past several decades.

Such moves by the government would encourage the East Indian Company culture once again in the country and endanger the freedom and integrity of the nation.

Mr Vellaiyan wanted the leaders of the political parties as well as governments to realise the danger and protect the domestic retail trade at any cost.

In protest, the federation would continue its stir and sought the cooperation of political parties for their just and reasonable cause.

Federation General Secretary Mohan General briefed newsmen on the resolutions adopted and said the Conference urged the Central and state Governments to prevent foreign direct investment (FDI) in retail trade besides stalling the MNC and country's corporates entering the retail trade.

The conference urged the state government to withdraw the VAT introduced in the state on January one this year as it would affect the interest of the domestic retail traders and also urged the Union Government to withdraw the VAT in all states.

It also urged the Central and state governments to give up its move for the establishment of Special Economic Zones (SEZs) as it would lead to the development of social confrontations and to ban online trade in commodities and give up collection of Service Tax.

The meet urged the Delhi Administration to give up its move to close shops in residential areas.

Instead, the Delhi Administration could regularise the shops in some other ways by fixing reasonable rent and protect the interest of the traders concerned.

UNI