Kerala - Kozhikode   

FDI in retail to figure at the convention of KVVS

Special Correspondent

`Entry of foreign firms will be disastrous'

KOZHIKODE: Resistance to the entry of foreign companies into retail business sector is the central theme of discussions at the State convention of Kerala Vyapari Vyavasayi Samiti (KVVS) to be held in Kozhikode city from March 25 to 27.

Issues warning

The organisation's spokesmen Binny Immatti, P.K. Girish and K. Sreedharan said on Wednesday a warning against entry of foreign firms in Indian business sector was being sounded since in their view it would be disastrous for merchants in the country.

The crisis in farm sector and the growing unemployment, which they believed was caused by surrendering of the country's interests to foreigners, had also impacted adversely on merchants, KVVS spokespersons said.

Sixth Convention

The sixth State convention of the organisation, which is being held in Kozhikode, would address these issues.

It would also discuss a demand for legislation to ensure adequate compensation to merchants who get displaced during development of roads.

Mamu Koya to open meet

The meeting would be inaugurated on March 25 by V.K.C. Mamu Koya, CPI(M) MLA, who is also the chairman of the committee formed for organising the programme.

KVVS and Kerala Vyapari Vyavasayi Ekopana Samiti are the main organisations representing merchants in the State.

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