Traders to agitate if FDI allowed in retail sector

<div class="section1"><div class="Normal">MUMBAI: Union finance minister Jaswant Singh’s categorical statement that foreign direct investment (FDI) would be permitted in the retail sector has upset the trading community in the city. Singh had stated in an interview to a financial daily recently that “we are committed to it and it is part of our agenda.’’<br /><br />Rajendra Thakkar, president of the Mahanagar Parishad, an omnibus organisation of 54 trade associations with a total membership of 45,000, said, “the BJP will have to pay a heavy price if it does not change its policy.‘’<br /><br />“Thousands of families will be ruined if the retail trade is opened to foreign investors.We will not allow any political party to play with the lives of so many people,’’ he observed and added that “We will launch a militant agitation against this move.We are sending a representation to Prime Minister Vajpayee in this regard.’’<br /><br />Kishore Shah, president of the Retail and Dispensing Chemists’ Association, which has a membership of 5,000, said “we will give a call for boycott of the BJP if the party does not revise its stand. Already the retail trade is in bad shpae. Foreign investment in this sector will further weaken it. We plan to call a meeting of our members shortly to decide the further course of action.’’<br /><br />Mohan Gurnani, president of the Federation of Associations of Maharashtra (FAM) noted that FDI in retail trade is not in the BJP’s agenda, but it has “somehow got into the NDA manifesto.’’<br /><br />“FAM has conducted several agitations against the move and we will continue to do so. However, I am opposed to the politicisation of the issue. We have appealed to all our members to back only those who defend traders’ interests,’’ he stated. FAM has its presence among the trading community all over Maharashtra. Atul Bhatkhalkar, spokesperson for the city BJP, said, “I will have to ascertain what exactly the FM has stated.’’<br /><br />The trading community has traditionally been supportive of the BJP. In fact, the BJP has always been branded as a party of traders and Singh’s statement has complicated the situation for the party in the city on the eve of the Lok Sabha polls.<br /><br /><formid=367815></formid=367815></div> </div>