 Online edition of India's National Newspaper Friday, Jul 16, 2010 ePaper | Mobile/PDA Version |
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Tamil Nadu
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Madurai
MADURAI: The Tamil Nadu Chamber of Commerce and Industry and the Agro Food Chamber of Commerce and Industry have strongly opposed the recent move by the Centre to float a discussion paper on allowing foreign direct investment (FDI) in the retail sector. Its senior president S. Rethinavelu said that a high-level cross-party Parliamentary Standing Committee headed by the Bharatiya Janata Party MP Murli Manohar Joshi advocated a blanket ban on allowing FDI and large domestic corporates in the retail sector, besides separate Act to protect retail traders. Any move to allow FDI would jeopardise the livelihood of four crore people engaged in the retail trade.
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