'MNCs' entry in retail would lead to suicides by smalltraders'

COIMBATORE: Allowing MNCs and big corporates in retail trade would lead to large-scale suicides of small traders, as witnessed in the farming sector, the CPI(ML) alleged on Wednesday.

"The entry of such big players is part of the 'anti-poor' policy being adopted by the UPA government at the Centre," CPI(ML) national general secretary, Jaikumar told reporters at a press meet here.

Nearly 1.2 crore small traders and crores of common people depending on traders would be adversely affected by entry of players like Walmart, Spencers and also Reliance, Tatas and Mittals, he said.

Big players like Walmart had caused 'heavy damage' not only in developing countries, but also in the USA, where 18 lakh small traders had to close down their shutters, he claimed.

The unity and large-scale protests by those opposed to MNCs and small traders had prevented the entry of Walmart in New York, Jaikumar said.

"However, the coming together of Bharti and Walmart in India will result in the end of small traders, which will directly and indirectly affect the common man," he said.

Stating that these MNCs would soon enter the farming sector by retailing in fruits and vegetables, he said that they would resort to buying lakhs of acres and dominate the sector in the near future, killing the agriculture sector gradually.

He also opposed the 1 2 3 Pact between India and USA.

ET

Tags: suicide, india, retail, reliance, wal-mart, UPA, anti-people