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JD(S) opposes PM's statement

Special Correspondent

98% of small retailers are in unorganised sector

NEW DELHI: The Janata Dal (Secular) has opposed the reported statement of the Prime Minister, Manmohan Singh that the Government would go ahead and allow foreign direct investment in retail marketing, despite strong opposition from parties supporting the Government.

Ninety eight percent of the small retailers were in the unorganised sector and would, therefore, not equipped to defend themselves against the onslaught of giant multinational retailers once the market was opened, the party said.

The global retail chain Wal-Mart, for instance, had a turn over of US dollars 285 billion last year.

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