JAMMU, Dec 15: Federation of Retailer Association of India (FRAI) has extended support to Confederation of All Indian Traders’ (CAIT) ‘Rath Yatra’ which entered Jammu on Friday.
The ‘Rath Yatra’ is being organised by traders all over India to protest against the Walmart-Flipkart deal. FRAI also appealed the Govt of India to revoke back the Walmart-Flipkart deal as the livelihoods of millions of families are at stake because of deep discounting, loss funding and market concentration strategies adopted by the internet marketing companies.
In a handout FRAI stated that unorganised retail in India is the second largest employment generating sector after agriculture.
“Many retailers are from the lowest economic strata and are the sole earning members of their families and work hard just to provide basic meals and amenities to their families. For these retailers, meaningful employment is hard to come by and they have to depend on petty jobs to sustain ourselves,” it stated.
Speaking on the occasion, Ram Asre Mishra, President FRAI said, “We believe that the Walmart- Flipkart deal will jeopardise the livelihoods of India’s millions of retailers. Such collaborations of multinationals will increase the cost of doing business for the poor retailers and will severely impact our daily earnings,” he said.