Traders protest against Wal-Mart entry into retail sector

Traders on Wednesday took out a protest demonstration against the proposed entry of Wal-Mart Stores Inc in the Indian retail market, saying the goods supply chain will rob them of their livelihood.

Gwalior (MP), Aug 8 : Traders on Wednesday took out a protest demonstration against the proposed entry of Wal-Mart Stores Inc in the Indian retail market, saying the goods supply chain will rob them of their livelihood.

Opening up the country's fragmented retail sector has triggered opposition from some political parties and small shop owners, who fear massive job losses.

The traders, under the banner of 'Centre of Indian Trade Union' (CITU) marched through the streets of Gwalior, demanding that the Centre should 'safeguard' the interests of small vegetable vendors.

"If retail stores like reliance and Wal-Mart come and start selling vegetables here, then what will the unemployed youth of the city and the country do?," asked CITU leader Ramvilas Goswami.

As the protesters forced shop-owners to down shutters, police baton-charged them to disperse them.

Officials said the situation is now under control.

"Small protest marches are being taken out, but there is no news of any untoward incident," said City Magistrate Sharad Kshatriya.

Left parties, the allies of the United Progressive Alliance (UPA) Government, have called for the establishment of a licensing system for retail chains and torevent the entry of foreign players like Wal-Mart.

India's retail industry, valued at nearly 350 billion dollars, is forecast to double in size by 2015, with modern retail's share of that increasing from about three percent now.

Bharti Enterprise has teamed up with Wal-Mart to open 10 to 15 cash-and-carry facilities in India over the next seven years, employing about 5,000 people.

India allows foreign single-brand retailers to take up to 51 percent in a joint venture with a local firm, while multiple-brand retailers like Wal-Mart are limited to cash-and-carry, or wholesale, and franchise deals.

ANI