CITU Protests against FDI in Retail Trade

 

THE Centre of Indian Trade Unions (CITU) took out a protest rally on December 1 to oppose the union cabinet decision allowing foreign direct investment in multi brand retail. Hundreds of CITU activists holding placards and banners participated in the rally that took off at Bikram Chowk and concluded at City Chowk in Jammu.

 

The activists were shouting slogans against the UPA government for its anti-people decision, demanding its immediate roll back. They also cautioned the state government not to sell out retail trade in Jammu and Kashmir.

 

State president of CITU and MLA Mohammad Yousuf Tarigami, while addressing the rally termed the decision anti-people depicting the callous attitude of the central government towards the 4.4 crore retailers of the country and the poor people as a whole. He said FDI will snatch away the livelihood of small retailers countrywide including in Jammu and Kashmir where thousands of shopkeepers and retailers have set up shops as their livelihood means.

 

He further said that Jammu and Kashmir like other states of the country has the highest shopping density with several lakh youth dependent on the retail trade. FDI will increase unemployment further. He said giant MNCs like Walmart exploit economies in procurement, storage and distribution to displace domestic retail chain completely. He said the decision will thus ruin the lives of millions of retail traders and people engaged in the trade as well as the farmers due to the monopoly of MNCs on retail trade and lack of regulatory mechanisms. He said CITU will continue its struggle till the anti-people decision is rolled back.

 

General secretary of CITU Om Prakash, regional secretary of CPI(M) Sham Prasad Kesar, Romesh Chand, among others addressed the rally and pledged to support the struggle of traders in getting this anti-people decision reversed. They also highlighted the disastrous implications of the foreign companies on the economic sovereignty of the country.