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Big players to gain: trade body

By staff Reporter
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GUWAHATI, Dec 3 � Opposing Foreign Direct Investment (FDI) in the retail sector in the State, the Assam Chamber of Commerce (ACC) today said that not just it would kill the retail trade sector, it would create a monopoly of big players in the market.

The traders� body also alleged that all the arguments in favour of the FDI in retail sector would prove invalid in the long run and neither the consumers nor the country would be benefitted through this move.

Addressing a press conference here, the State president of the traders� body Rupam Goswami said that though the consumers would get some benefits in the initial years, things would not be the same in the long run if the big players enter the retail sector.

�It is true that the retail trade sector of the country would not survive the blow of the FDI. But once the market is captured by a few big players, it would be very easy for them to come to an understanding and decide the prices as per their convenience,� said Goswami.

In Assam 16, 00,000 people are directly associated with the retail trade sector. �In our State, it is more important to encourage the small traders than allowing the entry of FDI. Assam needs more industries to increase production,� said Goswami.

The traders� body is mulling over a plan to start a financial institution that would provide easy loans to the small traders of the State.

Goswami further said that the retail traders constitute four per cent of the total population of our country. Directly or indirectly, several crore people are associated with the retail trade business. Though the government is saying that FDI would generate jobs, the truth is that it would adversely affect the livelihood of several crore self-employed people, which is not good for the country.

ACC representatives would meet Chief Minister Tarun Gogoi and submit a memorandum to him on this issue.

�Earlier also, we asked the government to bring a shopping mall regulation act in the State, to save the retail trade. The malls should be located outside the city and it should be made mandatory for them to sell not less than 12 pieces of any product,� added Goswami.

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Big players to gain: trade body

GUWAHATI, Dec 3 � Opposing Foreign Direct Investment (FDI) in the retail sector in the State, the Assam Chamber of Commerce (ACC) today said that not just it would kill the retail trade sector, it would create a monopoly of big players in the market.

The traders� body also alleged that all the arguments in favour of the FDI in retail sector would prove invalid in the long run and neither the consumers nor the country would be benefitted through this move.

Addressing a press conference here, the State president of the traders� body Rupam Goswami said that though the consumers would get some benefits in the initial years, things would not be the same in the long run if the big players enter the retail sector.

�It is true that the retail trade sector of the country would not survive the blow of the FDI. But once the market is captured by a few big players, it would be very easy for them to come to an understanding and decide the prices as per their convenience,� said Goswami.

In Assam 16, 00,000 people are directly associated with the retail trade sector. �In our State, it is more important to encourage the small traders than allowing the entry of FDI. Assam needs more industries to increase production,� said Goswami.

The traders� body is mulling over a plan to start a financial institution that would provide easy loans to the small traders of the State.

Goswami further said that the retail traders constitute four per cent of the total population of our country. Directly or indirectly, several crore people are associated with the retail trade business. Though the government is saying that FDI would generate jobs, the truth is that it would adversely affect the livelihood of several crore self-employed people, which is not good for the country.

ACC representatives would meet Chief Minister Tarun Gogoi and submit a memorandum to him on this issue.

�Earlier also, we asked the government to bring a shopping mall regulation act in the State, to save the retail trade. The malls should be located outside the city and it should be made mandatory for them to sell not less than 12 pieces of any product,� added Goswami.

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