Madurai

Traders deplore FDI in retail

OPPOSING MOVE: Members of Tamil Nadu Vanigar Sangankanlin Peramaippu staging a protest in Madurai on Wednesday. Photo: S. James  

Members of the Tamil Nadu Vanigar Sangankalin Peramaippu were detained here on Wednesday for attempting to stage a rail roko against the vote on foreign direct investment (FDI) in the retail sector in Parliament.

The Union Cabinet in November approved the proposal to allow 51 per cent FDI in multi-brand retail sector besides increasing the ceiling for FDI in single brand retail to 100 per cent from the present 51 per cent.

This move gave green signal to global retail chains such as Walmart, Tesco and Carrefour to open shops in India.

The protest was headed by L. Thangavelu, regional president of the Peramaippu for four districts.

They raised slogans against the vote in Parliament and said that protests were being staged across the country as this move would affect small traders.


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Printable version | Jan 25, 2022 12:55:02 AM | https://www.thehindu.com/news/cities/Madurai/Traders-deplore-FDI-in-retail/article15619189.ece

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