The Federation of Karnataka Chambers of Commerce and Industry has opposed foreign direct investment in the retail sector.
In a memorandum submitted to Chief Minister B.S. Yeddyurappa, FKCCI has urged him to pressure the Centre to put on hold the proposal of FDI in the retail sector. According to studies , 40 million people are engaged in retail. If FDI is allowed, it would create only 35,000 to 40,000 jobs, the memorandum said.