Mangalore : The members of CPI(M) along with All India Traders staged protest against the union government’s move to permit foreign direct investment (FDI) in the retail sector in front of DC Office on Dec 1, Thursday.

Speaking on the occasion, K R Shriyan, Deputy Secretariat member of CPI(M)he said that there are 400 street vendors in the city and the central government is getting the contribution of Rs 40 crore to country’s GDP.

He also said that the foreign direct investment has a number of dangers and will definitely lead to unemployment problems while destroying existing businesses and supply chains. FDI in retail will destroy farmers because foreign companies will lease their land.

The protestors said that they will oppose the measure because it threatens the livelihood of innumerable retail traders and their families.

Muneer Katipalla, the vice president of the DYFI (state), and Sunil Kumar Bajal, the city convener of the CPI (M) were present.