The Tamil Nadu Chamber of Commerce and Industry has once again reiterated its opposition to permitting foreign direct investment (FDI) in multi-brand retail trade in the country.
Stating its views on reports of allowing FDI in multi-brand retail trade being favourably viewed by the Government and a final decision to be taken up by the end of next month, the Chamber in a statement said that though the decision might carry certain riders, there is silence on the recommendations of the report of the standing committee to impose a blanket ban on FDI in grocery, fruits and vegetables.
Their entry would lead to loss of livelihood and the resultant social pressure and strife could not be imagined.
The Chamber said that it has written to the Prime Minister to maintain the status quo or at least keep away FDI from grocery, fruits and vegetables and represented to the Chief Minister to impress the Central Government to include a rider that FDI would not be allowed in multi-brand retail in fruits, grocery and vegetables in Tamil Nadu to protect the local retailers in these commodities.