15,000 traders to shut shop in Vijayawada
VIJAYAWADA: The UPA government's controversial decision to allow 51 per cent Foreign Direct Investments (FDI) in the multi-brand retail and 100 per cent in single brand retail, is triggering widespread protests in Vijayawada city, one of the biggest business markets in the state.
As many as 15,000 retailers and small shop owners have decided to observe a complete bandh on December 1 by shutting their shops in the city.
The Vijayawada Chamber of Commerce and Industry, which held a meeting on December 29, made a resolution in this regard and appealed to public representatives, farmers and people to extend their support.
The Vijayawada Chamber of Commerce president Gaddam Subba Rao said that the Centre's decision would create hardships for retailers, making them bankrupt.
He also alleged that the permission for FDIs by MNCs in the country would not provide jobs.
'The Bharati-Wallmart outlet at Nidamanuru near Vijayawada exemplifies that only 200 jobs were provided as against hundreds of jobs promised by the Central government,' he said.
The Left parties, BJP and TDP are also planning to hold protests against the FDIs in Vijayawada on Thursday.
On the other hand, traders at Guntur chilli market yard, have also decided to close down the market on December 1.
News Posted: 1 December, 2011