The government has not taken any cognisance of his solemn assurance. It is highly deplorable that not only the opposition parties, but even the allies of the UPA are vocal against FDI in retail trade, which has been overlooked by the government. They further said that even the unanimous recommendations of the parliamentary standing committee were brushed aside.

The trade leaders said that the decision would adversely impact the national economy and retail trade of India. Not only the traders but even the farmers, labourers, hawkers, transporters and other sectors of the retail trade will be hit hard, which will culminate into mass unemployment and steep inflation. It will provide ample opportunities to the MNC’s to control and dominate the retail trade. They reminded that such situation has already developed in the US, Australia and European countries where the global giants have virtual control on the retail trade. They said that nearly 5 crore traders engaged in retail trade and more than 22 crore people dependent upon retail sector for their livelihood will be badly affected.

The trade leaders said that trading community of the country would oppose this decision tooth and nail across the country. To finalise the future course of action, the CAIT has called an emergent meeting of its national council on September 21 at Vrindavan. In order to protect their interest, if traders have to convert themselves into a vote bank, they wouldn’t not leg behind, they said.