Vendors' body opposes FDI in retail

Vendors' body opposes FDI in retail New Delhi: The National Association of Street Vendors of India today strongly opposed FDI in the retail sector saying the decision would threaten their livelihood.

"The decision of the government would further threaten the livelihood of the street vendors. The foreign companies would certainly try to drive out the street vendors through huge investments," said NASVI national coordinator Arbind Singh.

Strongly criticising the decision to allow FDI in retail, he said NAVSI would stage protest across the country on Wednesday demanding withdrawal of the decision.

The Union Cabinet on November 24 approved 51 per cent FDI in multi-brand retail, paving the way for global giants like WalMart to open mega stores in Indian cities.

The move has drawn the flak of the opposition parties which have described it as a lopsided decision to favour multi-national companies.