While giants like Walmart are waiting for Indian government to approve 51% FDI in multibrand retail. German retailer Metro Cash & Carry who are currently having 11 distribution center in the country, is worried about the local kirana shops. The company sources said that the new development will affect the local retailers as consumption pattern of consumers are changing because of the growing disposable income with the people.
The statement from Metro Cash & Carry was a surprise to the other retail chains as they were arguing that FDI will only benefit the local retailers by providing them new opportunities in the growing retail market. The statement will be a boost for the protesters who are standing against FDI proposal.
