http://www.hindu.com/2007/02/12/stories/2007021205961200.htmCampaign against Wal-Mart
Special Correspondent
NEW DELHI: Leading trade unions have joined hands with cooperative stores, retail associations and small-scale traders to launch a campaign against retail giant Wal-Mart's backdoor entry into India and the Government's move to open up the retail sector for Foreign Direct Investment (FDI).
Over a score groups have signed a memorandum against Wal-Mart's entry and FDI in retail which will be submitted to Prime Minister Manmohan Singh and United Progressive Alliance chairperson Sonia Gandhi on Tuesday.
The memorandum — an initiative of India FDI Watch — states that Wal-Mart's entry and FDI in retail would result in widespread unemployment and massive displacement of people.
Quoting media reports which suggest that corporate retail chains would invest over 50 per cent into food retail — entering directly into contract farming where the implications on farmers has till date not been studied — the memorandum notes that with agriculture and unorganised retail sectors being the country's largest and second largest source of employment respectively, "there is no place for giant corporates like Wal-Mart and other multi-national retail chains, known for their monopolistic business practices abroad, in India."
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