DMK-FDI: It's much to do with caste

Tamil Nadu has been the playground of discount retailers for generations and traders from its Nadar caste absorbed competition from organised players quite well. Yet, why this DMK-AIDMK antipathy to big ticket investment in retail? The Dravida Munnetra Kazhagam (DMK) has joined the chorus with its staunch rival the ruling AIADMK in opposing the Manmohan Singh government's decision to allow 51 per cent equity in multi-brand retail. Though a partner in the UPA government in Delhi, the DMK has chosen to oppose FDI in retail marketing simply because it does not want to go against the interest of small traders who fear a threat to their business.

Read Full Story>>