Traders seek Lefts support to stall entry of retail chains

Small traders on Saturday sought the support of the countrys powerful Left parties to stall entry of corporate retailers.

New Delhi, Aug 25 : Small traders on Saturday sought the support of the country's powerful Left parties to stall entry of corporate retailers.

A delegation of traders under the aegis of Confederation of All India Traders (CAIT) met leaders of Communist Party of India (CPI) to discuss their concern over the entry of big business houses into retail sector.

"They (corporate houses) should not be allowed to enter the retail trade sector. They have their own sectors they operate in. Why are they depriving small retailers others of their means of sustenance?" asked Communist Party of India (CPI) leader A B Bardhan.

Alleging that the UPA government's priorities have become 'distorted', Bardhan said, "There are four crore people in retail trade and, 15 to 20 crore people are dependent on it for their livelihood."

Several big corporates have forayed into the sector, which is estimated at 350 billion dollars and is intensely fragmented. Of this, organized retail accounts for just 8 billion dollars.

The entry of big players has triggered political concerns and protests from trade unions and small shop owners who fear losing jobs.

"Due to them (big players), crores of people will be deprived of their livelihood. The government has not even provided alternative livelihood options to small retailers," said Praveen Khandelwal, Secretary General of Confederation of All India Traders (CAIT).

The meeting comes a day after private retail shops belonging to Reliance Group were shut down in neighbouring State Uttar Pradesh.

India's retail industry is forecast to double in size by 2015, and both local and foreign companies are keen to enter the market. Currently about 3 percent of India's market is organised retail, tiny compared with other large economies.

ANI