November 25th, 2011
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Retail sector strike against FDI

retail sector strike against FDIThiruvananthapuram: State Retail dealers in Kerala will stage a protest on November 29, 2011 against the Centre’s decision to grant 51% FDI in multibrand retail sector.  Protest marches shall be organized in all districts. The governments decision to open up the retail sector to large international giants was made dismissing the opposition of small scale enterprises.India has now opened the $450 billion retail market to global giants like Wal Mart, TESCO and Carrefour.

The Indian Cabinet yesterday cleared 51 per cent foreign direct investment (FDI) in multi-brand retail and 100 per cent FDI in single-brand retail.The Opposition has expressed concerns that allowing major global retailers would lead to unemployment among the world’s largest unorganised sector.

 

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