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Government says no further Opening of Indian Retail Trade

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Protecting the interest of small traders who are the second highest employer, the government says that the Indian retail trade cannot be opened again. The Minister of state for commerce in his written reply in the lower house, states that it is their duty to protect the legal interests of everyone holding their stake in retail segment and see that the small retailers are not being affected and further there should not be any unpleasant outcome with regard to employment.
He further gave a copy of the Indian Council for Research on International Relations which states that there would be a 10% growth in the retail trade industry. The copy states that the systematized retail trade will grow at a high pace to clinch a 16 percent share by 2011-12, but the copy also states that there is no proof of reduction in employment in the unorganized segment because of the entry of big firms into the business. It is reported at the www.propertykhazana.com that the farmers were notably benefited by doing direct sales to organized retailers by about 60% than by selling in the wholesale market. For more and latest realty updates follow www.propertykhazana.com.
Source: NBTVLIVE

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