Several Delhi markets to remain closed tomorrow
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Last Updated: Wednesday, November 30, 2011, 21:34
  
New Delhi: A section of traders will shut their shops here on Thursday as part of an all India bandh called to protest against the government's decision to allow FDI in retail sector.

According to a release by Confederation of All India Traders' Delhi unit president Narender Madan, a large number of traders will participate in the all India bandh.

He said wholesale and retail markets in Walled City, Sadar Bazar, Kamla Nagar, Chawri Bazar, Connaught Place, Karol Bagh, Khan Market, Kashmere Gate, Tilak Nagar, Rohini, Krishna Nagar among others will remain closed.

CAIT Secretary General Praveen Khandelwal said over 10,000 trade organisations across the country are expected to participate in the Bharat Vyapar Bandh.

Khandelwal said the decision on FDI will create an uneven playing field in the country which will tilt towards MNCs and prove to be a nightmare for traders and consumers.

Noting that there was no need for foreign investment in the sector, he said, "The government should withdraw the permission of FDI in retails."

He said that India retail sector was being run successfully by the indigenous capital at the rate of 15 per cent and contributing near 10 per cent of GDP, so no FDI was required.

"The foreign retailers can open in big cities, but they will source from mandis across rural India and small towns. With their money and power over time they can corner the supply of produce and dominate outsources side," he said.

PTI


First Published: Wednesday, November 30, 2011, 21:34


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