MNCC chains to gobble up traditional retail: CPI(M

Ranchi: The CPI (M) on Sunday said fledgling states like Jharkhand would be hit hard if the retail section was handed over to multi-national retail chains as traditionally the sector provided largest possible self-employment.

"The Centre should revoke its decision as one/sixth of the country’s population depend on the retail network. Once these multinational retail brands like Walmart set up shops the traditional retail network would be broken, leaving lakhs of families in penury," CPI(M) Central Committee member J S Majumdar said here.

From loading, unloading, transport, wholesale to village and urban markets, he added, the retail network has been the backbone of a large part of unorganised sector.

"The purpose of whatever so called steps the government has been taking to eradicate poverty would be defeated once the organised sector, having different yardsticks, gets control of retail market," he predicted.

The CPI (M) and its trade wing CITU would support the nationwide shutdown on December 1 called by the Confederation of All India Traders to protest the Centre’s decision allowing multinational brands in the retail.