Retail giants suffer setback

11 Oct '07
1 min read

A teeming crowd of disappointed retailers gathered yesterday, at Azad Maidan in south Mumbai to crusade against the foreign direct investments (FDI) in retail projects like Bharti-Walmart.

The protest organized under the banner of Federation of Associations of Maharashtra (FAM), included a large number of retail traders, wholesalers and hawkers coming from various parts of the city.

This instance of agitation led to several other aggressive demonstrations in states of Kerala, Orissa and UP. Dissent aimed at conveying to the multinational companies and Indian corporates to keep their hands off the retail sector.

As a result, retail chains of Reliance in UP had to face severe consequences. State Government, considering the present circumstances, has discontinued the Reliance retail expansion plans.

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