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FDI policy SC seeks government assurance over future of small traders

Category : National |  Posted Date : 22/01/2013

TOI NEW DELHI: The Supreme Court has asked the government to file an affidavit assuring that FDI in retail would not push small traders out of business.

The apex court said on Tuesday that FDI in retail should not kill competition.

The experience is that big firms enter a sector, artificially lower the prices of products to force small traders shut shop and once they achieve monopoly they jack up the prices, the SC bench observed.

The court has given 3 weeks' time to the government to file its response.

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