Make assessment on future of small vendors, says Barnala

Chennai, Jun 15 (UNI) Tamil Nadu Governor S S Barnala today suggested that the Centre make an assessment on the future of small vendors before allowing the multinationals to enter the retail segment.

Inaugurating a conference on "Riding high on the retailing wave" here, he said the livelihood of small retail vendors should not be placed in any kind of jeopardy, while allowing the multinational companies to enter into the retail segment.

"Retail trade is the source of livelihood for thousands and thousands of small hawkers in our country," he said adding the governments could not afford to ignore their interests while allowing the giants to enter into the retail trade.

The impact of transnational retail giants and domestic retailers on small scale enterpreneurs in the country should also be studied so that all the above players were able to play a constructive role in the development of the country, the Governor said.

He said over the last few years, many international retailers have entered the Indian market on the strength of the rising affluence levels of the young Indian population along with heightened awareness of global brands and increased availability of retail space.

Retail trade needed big consumer brands to generate revenue while big consumer brands were happy that their products have now got a visibility and presence in attractive retail stores, which was not present previously, he said.

Pointing out that consumers were rewarding the stores by generously buying from the outlets, the Governor said "the whole process will be profitable to one and all only when the market forces are allowed to play. Excessive pricing by the retailers may upset the apple cart." UNI