"Consumers and traders will be at the receiving end if the United Progressive Alliance decides to introduce FDI in the retail sector.
"The international traders never face genuine competition in the market, but follow a policy of concentration of goods and dominance in the market," said B C Bhartia, the National President of the Confederation of All India Traders.
"These FDI investors will put in a lot of money and also spend huge money. Obviously their expectations will be high.
They jack up prices of commodities instead of selling goods at comparative rates and virtually compel consumers to take more quantity of goods and also compromise on quality," he told PTI.
With full control over the supply chain, FDI investors will dry up the existing sources on which traders are fully dependent and exploit the situation to their benefit to earn profits.
Since FDI investors have a huge financial loss-bearing capacity, they will virtually make the local traders run for money, Bhartia -- a professional chartered accountant with a background of family business in trading --
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