Traders protest Wal-Marts entry into Indian retail sector

Traders today protested against the entry of Wal-Mart Stores Inc in the Indian retail sector, saying the goods supply chain would rob them of their livelihood.

New Delhi, Aug 9 : Traders today protested against the entry of Wal-Mart Stores Inc in the Indian retail sector, saying the goods supply chain would rob them of their livelihood.

The opening up of the country's fragmented retail sector has triggered opposition from some political parties and small shop owners, who fear this will lead to massive job losses.

The traders,who congregated under the banner of 'Vyapar Rozgar Bachao Andolan' (Save Small Businesses Movement), burnt an effigy representing Wal-Martand demanded that the Centre 'safeguard' the interests of small traders.

They were joined by social activist Vandana Shiva, who the said entry of corporate giants into the Indian retail sector would deprive small vendors and shopkeepers of the livelihood.

"This corporate monopoly will drive out the small shopkeeper. Their track record is proof of what they do, whether it is in Europe or in the United States. In India, the damage will be much bigger because the numbers involved are much bigger" said Shiva.

Meanwhile, angry traders said it was necessary for the government to safeguard the interests of shop owners and vendors.

"We want the entry of corporate houses in the retail sector to be stopped immediately. We want a study to be conducted on the entrance of these corporates to determine if it has a negative effect on the economy, the environment and culture of our business," said Praveen Khandelwal, Secretary General, Confederation of All India Traders.

The Left parties, who support the ruling United Progressive Alliance (UPA) Government from the outside, have called for the establishment of a licensing system for retail chains and to prevent 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.

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