CM reassures PMK on curbing multinationals in retail trade

Chennai, May 8 (UNI) Tamil Nadu Chief Minister M Karunanidhi today told the state assembly that the ruling DMK, along with its allies, would prevail upon the Centre to prevent multinational companies like Reliance from entering the retail segment.

Responding to Pattali Makkal Katchi (PMK) floor leader G K Mani, who intevened in the debate on the demand for grants for Industries department. The Chief Minister said the State could not ''send back'' multinational companies from retail business and this has to be done by the Centre.

''As we are all constituents of the Congress led UPA government at the Centre, we will approach it and ensure that the Union cabinet takes a decision to stop multinational companies from entering retail trade,'' he said.

Participating in the debate, Mr Mani and his colleague T Velmurugan expressed concern over multinationals like Reliance and Walmart being allowed to do retail business in the country.

Thousands of local traders engaged in retail business would be rendered jobless if these companies were allowed to gain a foothold in retail business, they said and demanded a ban on their entry into retail trade.

UNI