The delegation urged the President to save the hawkers, traders and other sectors of retail trade from the clutches of MNC’s. The representatives of National Hawkers Federation, Fruit & Vegetable Mahasangh and Confederation of All India Traders (CAIT) comprised the delegation.
“If FDI is allowed in Retail sector of India, it will have detrimental affects on the livelihood of more than 22 crore people who are dependent upon retail trade for their livelihood. About 70 crore poor people earning less than Rs. 20 per day will also be hit badly as retail is the only sector which provides disguised employment”, the delegation apprised president.
The predatory pricing policy businesss module of the MNC’s will wipe out the Competition and then they will be able to control and dominate the retail trade and will dictate their discretionary prices and the ultimate sufferer shall be the consumer. The small shopkeepers due to their limited means will not be able to compete the MNC’s.
The delegation also reminded the President that as a Finance Minister he categorically assured the Parliament that FDI in Retail will be allowed only after bringing unanimity. Unfortunately, the Government has brushed aside said assurance and never consulted any stakeholder on this important issue.