SJM opposes entering of MNCs in retail trade

Jamshedpur, May 8 (UNI) Swadeshi Jagaran Manch (SJM) today opposed the government's move allowing the multi-national companies to enter in retail trade would create adverse impact on socio-economic fabric.

Addressing a seminar, organised by the 'Retail Trade Cell' of the Manch, Cell's national president Ashwini Mahajan said here today that the UPA government's move to give permission to the foreign investors under the single brand foreign equity in January 2006 would directly affect more than one crore retailers in the country.

He said above ninety per cent retailers were belonging to the unorganised sector.

Warning the government that the future of the small traders and retaliers would be at stake if it allowed direct or indirect entry to the MNCs in the retail marketing, Mr Mahajan urged the government not to provide any land to MNCs for setting up shopping malls in the country.

Mr Mahajan demanded that like the big industries, the limit of investment should be fixed in the field of retail trade and the big companies should not be allowed to trade below the fixed limit.

He said the Cell had launched its campaign in the 135 cities in the country to mobilise the retailers agianst the government's policy.

UNI