AKHIL Bharatiya Grahak Panchayat condemned the decision of the UPA government opening FDI in retail trade. At the same time it welcomed the stand of the Tamil Nadu Government for demanding immediate withdrawal of the decision. In a statement the Panchayat said the decision has been taken by the government without minding the livelihood of billions of retailers and their family members.
The statement said that retailers in India handle 98 per cent of the total trade with 12 million outlets. But the organised sector contribution is a just 2 per cent. Around 4 crore persons are employed in the retail trade. But their dependents are around 12 crore. The foreign giants may offer low prices in the beginning to attract the market, but after getting established they will start swallowing the retailers who will not be able to compete with them.