FDI in retail: 5 crore traders to down shutters today
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Several Bharti-Walmart storeswill remain closed on Thursday as a precautionary measure due to the bandh called by traders across the country, sources said.
World's second largest retailer Carrefour, which is present in the wholesale segment in the country, also beefed up security at its stores in Delhi and Jaipur. Private security guards patrolled the Carrefour store in the crowded Shahdra area in east Delhi and vigorously checked the vehicles entering the premises located near a Metro station.
Nearly 5 crore traders will down shutters on Thursday in protest against the government's move to allow foreign retail giants such asWalmart, Tesco and Carrefour in the multi-brand retail sector. The government has allowed 51% foreign investment in the multi-brand retail sector, but has faced stringent criticism as protests have swelled from opposition parties and some of its own allies.
"We have got very good response from across the country and 5 crore traders will not open their shops tomorrow. They will hold protest in their own markets. We will not hold demonstrations in front of foreign stores," Praveen Khandelwal, secretary-general of the Confederation of All India Traders association, told TOI.
He said the traders will hold a dharna in Jantar Mantar from 11.30am. "It is a band and will not take out any protest march or anything like that. We have received strong support from all the states," Khandelwal said.
Carrefour opened its second store in Jaipur after starting operations in its New Delhi cash and carry store in December last year. With a sales area of 5,650 square metres this new store is located north of Jaipur and offers in food and non-food products to professional businesses, institutions, restaurants and local retailers.
According to a statement issued on November 28, Carrefour said the opening of the Jaipur store demonstrated the company's interest in India and was in line with the group's strategy to develop in major emerging markets, which offer a high potential. (Times of India)
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