The Kerala Vyapari Vyavasayi Ekopana Samiti has called upon all its members to close shops in the district on Tuesday in protest against the Centre's move to allow

multi-brand foreign direct investment in the country.

A protest will be held at the District Vyapara Bhavan and in front of the Secretariat.

According to samiti State vice-president Peringamala Ramachandran the entry of retail giants into the country would affect the livelihood of local suppliers. The retail majors would lower the prices of the commodities initially which will force small-scale retailers to close down shops. The companies would also offer good prices to farmers initially.

In the long run, this would bring about the destruction of local retail chains and lead to price rise, he said.

The samiti would protest against this ‘injustice' and urge the government to do a rethink. “If this is not stopped, we will face the same fate of certain other countries,” he said.

Many laws had been enacted over a course of time to help multinational companies. This had led to the decline of the traditional sectors in the country. Allowing FDI in multi-brand retail is the continuation of such polisies, he added. Thousands of people employed in the retail sector would be jobless with the coming of the retail majors, he said..

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