Vaiko criticises Centre's move on FDI in retail

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.