APMC to rally in protest of FDI today

Published: Nov 28, 2011, 07:58 IST | Saurabh Katkurwar |

Traders and transporters join forces against the government; will keep the market shut on December 1, prices of essentials likely to spiral

Traders and transporters join forces against the government; will keep the market shut on December 1, prices of essentials likely to spiral

As a mark of their disapproval against the central government's latest decision of allowing 51 per cent Foreign Direct Investment (FDI) in multi-brand retail sector in the country, traders and transporters at the Agriculture Produce Market Committee (APMC) Market have decided to conduct a protest rally at 2 pm today. Moreover, the market will remain shut on December 1. According to sources, this closure is most likely to affect the supply of vegetables and fruits in Mumbai, leading to a temporary price rise.

Hard hit: In protest of the government's decision of allowing FDI in retail
sector, the APMC traders, with the support of transport companies, will
shut the market on December 1. File Pic

Shankar Pingle, director of the vegetable section, APMC market, said, "The decision of allowing FDI in retail sector is going to hurt retailers all across the country. As a mark of protest, we are going to keep the market shut on December 1. Considering that vegetables, fruits and grains are essential commodities, we have decided to shut the market just for a day, so that people don't suffer. However, the duration of this closure will increase if the government doesn't revoke its decision. With the transport companies supporting us, no agricultural product will reach Mumbai." Questioning the government's decision, Narendra Patil, general secretary, APMC Mathadi Union, stated, "What will labourers and small transport companies associated with the market do, after the traders lose their business to FDI?  These international retailers are unlikely to hire labourers from the market. Besides, with big companies hiring renowned transporters, small-time transport companies are bound to go bankrupt. Though the government says that FDI in retail sector will generate lakhs of jobs, unemployment due to FDI will be in crores."

TN not to allow FDI-funded outlets
Announcing her government's decision of disallowing retail outlets with FDI in her state, Tamil Nadu Chief Minister J Jayalalithaa yesterday asked the Centre to reverse its 'ill advised' policy of allowing 51 per cent FDI in retail. Jayalalithaa said, "I demand that this ill advised move of the government should be reversed, as it will not serve to bring down inflation or improve market efficiency." �

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