Trade organisations today called for a bandh across the country on December 1 to protest against the government's decision to allow 51 per cent FDI in retail sector. The Indian trading community will observe 'Bharat Vyapar Bandh' on December 1,a call jointly given by Confederation of All India Traders and Bharat Udyog Vyapar Mandal,CAIT general secretary Praveen Khandelwal said in a statement. More than 10,000 trade organisations across the country are expected to participate in the Bharat Vyapar Bandh. Khandelwal said the decision will create an uneven playing field in the country which will tilt towards the MNCs and prove to be a nightmare for domestic trade and consumers. Noting that there was no need for foreign investment in the retail sector,he asked the Government to withdraw the permission of FDI in retails. "India's retail sector was being run successfully by the indigenous capital at the rate of 15 per cent and contributing nearly 10 per cent of GDP,so no FDI was required," Khandelwal said. "The foreign retailers can open in big cities,but they will source from mandis across rural India and small towns. With their money and power,over time they can corner the supply of produce and dominate the outsources side," he said.
