‘Retailers need more protection’

Nov 19, 2009

The Tamil Nadu Chamber of Commerce and Industry has welcomed the announcement recently by the Union minister for commerce and industry, Anand Sharma, that there was no immediate plan to open up the retail trade sector.

The Chamber president, V Neethi Mohan, in a press release, praised the minister’s concern on the social security net.

Mohan drew attention to the Chamber’s earlier concern to both the Centre and a Parliamentary Standing Committee that al lowing foreign direct investment and multinational companies into the retail sector would threaten the livelihood of four crore people in the sector.

Mohan emphasised the Chamber’s demand to ban domestic corporates and foreign retailers from entering retail trade in grocery, fruits and vegetables, and the appeal for an enactment to protect the retailers.