All India Beopar Mandal president and former Lok Sabha MP Shyam Bihari Mishra, while addressing a conference after all India executives meeting blamed the Centre's decision to allow FDI in retail saying that it would ruin traders across the country.
He said multi-national companies with their financial power would badly affect the interests of traders and their only objective was to earn hefty profits from the country, which he said was clear from media reports that some of the major foreign companies in retail had spent crores of rupees for allowing FDI in country.
He alleged that the central government was misleading people about FDI by claiming that it would benefit the common man.
Criticising the Food Safety Act Mishra said the act was totally a copy of European acts in this direction, which can never be applicable in Indian conditions. "Instead of ensuring quality of food products the act will result in large corruption in process of issuing licenses to vendors," he said.
The meeting called on Punjab traders to not to cooperate with any surveys by the excise and taxation department for Value Added Tax and not to deposit processing fee of Rs. 800.