Joshi seeks laws to control retail business

June 9th, 2008 - 10:24 pm ICT by IANS  

Kolkata, June 9 (IANS) Senior Bharatiya Janata Party (BJP) leader and former human resource development (HRD) minister Murli Manohar Joshi Monday said retail industry was displacing the mom-and-pop shops in India. “Retail laws are necessary to control retail business in India,” he said at an interactive session organised by the Merchants’ Chamber of Commerce in Kolkata.

Joshi said these retail outlets were destroying low capital businesses in the country, which were there for 100 years.

He added: “Entry of any retail chain should be under the strict control and big capital should be used cautiously in the country.”

“There should be restrictions on iron ore export, keeping in mind the future requirements of the country,” Joshi said. Additional iron ore will help steel plants manufacture more.

He suggested expansion of education system without any hinder, and also expressed his concern at the fee structure of the Indian Institutes of Management (IIMs).

Joshi said: “IIMs charge exorbitant fees. Education should be equitable, accessible and affordable.”

Talking about rising inflation, Joshi said this was the consequence of economic reforms like liberalisation, privatisation and globalisation. Global disturbances had ripple effect on India, he added.

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