Date:18/04/2007 URL: http://www.thehindu.com/2007/04/18/stories/2007041814450300.htm

Karnataka - Bangalore

Signature campaign against FDI

Staff Reporter

BANGALORE: The India FDI Watch will launch a signature campaign in Bangalore from April 21 against the entry of big multinational companies in retailing sector and amendment to the proposed Karnataka APMC Act.

Speaking to presspersons here on Tuesday, the campaign organiser of India FDI Watch S. Babu said the campaign was being launched in Bangalore since the Government is bringing amendment to the act without holding consultation with the stakeholders of the sector.

The Country does not require foreign direct investments in retail and commerce sector of the country, as it is likely to affect lakhs of people dependent on these sectors, he added.

In India, he said, 8 to 9 per cent of the total population of the country was dependent on commerce sector whose interests have to be protected.

He said the entry of multinational companies would force farmers to raise crops that they require.