BJP opposes FDI in retail

Bhubaneswar: Strongly opposing any move to allow FDI in retail, the Traders` Cell BJP in state on Tuesday also demanded modifications in the Food Security Bill, 2006 for the benefit of small traders.

A delegation of the cell led by its convenor Umesh Khandelwal submitted a memorandum highlighting traders` problems to the Governor to be forwarded to the President.

On retail sector, the cell said India with a population of 122 crore is now the biggest market in the world and is being targeted by multinationals.

Stating that the retail sector in the country would fold up if FDI is allowed, it said the consumers and producers would be affected as these companies would neither give cheap goods nor would the farmers benefit.

Similarly, the Food Security Bill, 2006 would create a lot of difficulties as it has been framed on the lines of European and other developed countries, which is impossible to replicate in India, the memorandum said.

Since India has a vast rural base with 40 per cent of the populace below the poverty line, small traders are not highly educated. They are not aware of legal issues and the enforcement process, it said adding a new law should be brought after necessary changes as there needs to be many modifications in the bill.

The traders cell also demanded a total ban on future trading as it is "not a trade but pure gambling."