Delhi, UP traders protest corporate entry into retail sector

Traders from Uttar Pradesh and Delhi today protested against the entry of multinational companies into retail sector here.

New Delhi, Sept 25 : Traders from Uttar Pradesh and Delhi today protested against the entry of multinational companies into retail sector here.

Scores of traders held placards and shouted slogans against the government for inviting corporate into the retail sector.

Ashok Goel, President of the Vyapari Suraksha Forum (Traders Protection Forum), who led the protest, said they were protesting the lack of initiative by the government in preserving the interest of small traders.

"We want the government to be answerable for its actions-- it has become the enemy of all the small traders by inviting corporate into the retail sector," Goel said.

Confederation of All India Traders General Secretary Praveen Khandelwal said: "The traders are demanding that the government remove corporate from the retail sector. And, this is going to be a major issue that will affect our voting choices."

Demands of the traders include a total review of the policy, stating advantages to retail trade, economy and revenue with entry of corporate houses in retail; and framing of a national policy on retail trade and small and medium industries.

Foreign multiple brand retailers in India are limited to cash-and-carry and franchise or license operations.

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.

India's retail industry, valued at nearly 350 billion dollars, is forecast to double in size by 2015.

ANI