Poona Merchant’s Chamber yet to decide on joining strike against FDI

Strongly opposing the Centre’s decision of allowing 51% foreign direct investment (FDI) in the retail sector, various traders’ bodies across the country have decided to go on strike on September 20. However, Poona Merchant’s Chamber is in two minds over joining the stir.

The dilemma for the local business body is that the agitation will take place during the Ganesh Festival and traders are sceptical about closing down shops during the festive season.

The chamber will hold a meeting of retail traders from various parts of the state in Pune on September 17 and decide the future course of action.

The Confederation of All India Traders and other business organisations will hold a nationwide strike on September 20 to oppose the central government’s decision on allowing FDI in retail market.

Extending support to the agitation, Poona Merchant’s Chamber’s president Ajit Setiya said, “We are against FDI and will be supporting other unions but the decision to participate in the strike will be taken only after the Monday meeting.”

Setiya said, “Ganesh Festival is celebrated on a large scale in Maharashtra, particularly in Pune. There will be a lot of inconveniences for devotees if we close down our shops during the festival season. Therefore, we are working out a strategy on how to show our support to the nationwide strike.”

Allowing FDI in retail will have calamitous consequences for not only India’s vibrant retail sector, but also for small businesses and small farmers, who are already in crisis due to the gradual opening up of the economy to foreign capital over the last two decades. The business community will continue to protest against the injust decision of the government. We will continue our campaign to educate the common man about the disastrous effects of this policy, he said.