'FDI in retail to hit traders;new govt should protect section'

Opposing FDI in retail, traders in Tamil Nadu today said foreign investment would hit their livelihood and the new government should protect the section.
The Federation of Tamil Nadu Traders Associations in a resolution passed at its state conference here also urged the government not to allow wholesalers, both foreign and domestic, to indulge in retail business, which again would hit the traders, as wholesalers would "gobble up" the entire business and transaction.
Federation's President A M Vikarama Raja said allowing FDI in retail would hit the livelihood of lakhs of small traders across the country and the new government should protect the section.

In another resolution, it urged the government to not go ahead with implementation of Food Safety and Standards Act without carrying out necessary amendments as sought by the Confederation of All India Traders Associations.
The conference, attended by over 3 lakh traders from across Tamil Nadu, as part of celebration of Traders Day,also sought another department or ministry to look after traders' problems and to formulate welfare schemes for their benefit.
The traders also wanted government to simplify the sales tax rule and fix at single point and wanted simplification of service and income tax, besides banning futures trading, which was killing the entire business and economy of the country.