Traders' body to stage protests against FDI in Tamil Nadu

Opposing the cabinet approval for Foreign Direct Investment in multi-brand retail,a top traders' body in Tamil Nadu today announced plans to stage state-wide protests demanding a rollback.

"The claims that FDI will infuse money into the domestic market is false. Besides small traders, even others such as those in the farm sector dependent on retail trade will be affected," T Vellaiyan, president of the Federation of Tamil Nadu Traders' Association, an apex traders' body, said.

The federation would soon come out with an action plan over holding protests against the Centre's move, allowing 51 per cent FDI in multi-brand and 100 per cent in single-brand retail, he said.

Another traders body also opposed the move, saying it will hold state-wide hunger fast on December 6.

"As many as 20 lakh small traders will be affected in Tamil Nadu due to the move. We plan to hold hunger strike across the state on Dec 6, demanding immediate rollback of the approval," A M Vikrama Raja, head of Tamil Nadu Vanikar Sangankalin Peramaippu  said.