Vaiko criticises Centre`s move on FDI in retail

MDMK Gen Secratary Vaiko said the Centre`s decision was also against the spirit of federalism as retail trade comes under ambit of the state govts.

Last Updated: Nov 26, 2011, 15:32 PM IST

Chennai: Opposing the Centre`s decision to
allow 51 per cent FDI in retail trade, MDMK o Saturday said the
decision would `strangulate` 20 crore retail traders and
demanded its revocation.

In a statement issued here, the MDMK General Secretary Vaiko
said " The Centre`s move will strangulate the livelihood of 20
crore people involved in retail trade and demanded its
revocation".

He said the decision would allow multinationals a
monopoly over retail trade and leave the livelihood of traders
in jeopardy.

It would also affect the interests of farmers of the
country as MNCs would import agricultural produce, he said.

Vaiko said the Centre`s decision was also against the
spirit of federalism as retail trade comes under ambit
of the state governments, which had not been consulted, he
said.

PTI