Speaker asks industry to offset impact of MNCs' entry

Hyderabad, Jan 10 (UNI) Andhra Pradesh Assembly Speaker K R Suresh Reddy today called upon the retail industry to address the issue of displacement of small traders due to the entry of Multi-National Companies (MNCs).

After inaugurating the three-day 'International Conference on Retailing in the Globalised Era-Perspectives and Challenges', organised by the School of Management Studies at the University of Hyderabad, he said that with the exponential growth of the retail industry and several international players like Wal-Mart eyeing the Indian retail space, it was essential to protect small traders from its demerits.

He urged the industry experts, academicians and delegates to deliberate on the issue and assess its impact on grocers, displacement of small traders and their rehabilitation.

Mr Reddy said on the one hand the retail chains provided fresh, unadulterated consumables at a low cost, benefitting the consumers, but it caused displacement of small scale retailers.

''It's the responsibility of the industry to educate the political class and the administration on the advantages of the retail boom and measures to be adopted to address the problems of the affected.

This would help them to overcome stiff opposition the retail chain face today,'' he added.

School of Management Studies Dean V Venkata Ramana said the institute was taking steps to set up a research centre on retailing.

Association of Indian Management Schools (AIMS) Uday Salunkhe said ''India will have to have about 250 million square feet of land to house about 500 malls set up by 2010.'' UNI VA JJ AM ND1842