'corporate giants will not affect small retailers'

Tiruchirapalli, Dec 8: The entry of corporate giants like the Reliance and the Spencer's into the country's retail trade would not affect the small traders, according to Tamil Nadu Varthaga Kazhagam President J J L Gnanraj.

Addressing a press conference here last night, Mr Gnanraj said lakhs of small traders, engaged in the retail business, were having customers from middle and lower middle class, while the corporate supermarkets and departmental stores would attract only the upper and above upper class customers.

However, he clarified that the Kazhagam would fight against the entry of foreign companies and 'multi-nationals' as it would affect the interests of domestic traders.

Mr Gnanraj, who is also of the Tiruchirapalli District Chamber of Commerce President, said the Chamber had arranged for a Rs 180 crore loan assistance to 2,000 small traders in Tiruchirapalli district from the State Bank of India.

UNI