The Union Government should desist from permitting foreign direct investment(FDI) in multi-brand retail or at least in grocery, fruits and vegetables, the Tamil Nadu Chamber of Commerce and Industry and the Agro Chamber of Commerce and Industry here, have said.
In a memorandumto Mr Jyotiraditya Scindia, Union Minister of State for Commerce and Industry, recently, the delegation from the above chambersexpressed shock over the observation of Mr Anand Sharma, Union Minister of Commerce and Industry, in the Rajya Sabha that allowing FDI in retail trade would generate additional employment opportunities and that the Ministry would be taking an early decision in the matter once the recommendations of the Group of Secretaries, headed by the Cabinet Secretary reached him, and recalled the submission of an earlier memorandum that such a decision would affect the livelihood of four crore people engaged in retail trade and the 20 crore people dependent on it. in the country.
The Chambers, in the memorandum, wondered as to why the Government chose to ignore the recommendations of the Parliamentary committee, despite being placed in Parliament in June 2009, suggesting a blanket ban on entry of FDI in retail trade in grocery, fruits and vegetables and insisted that the recommendations of the above committee should be implemented.