MP Flags Crisis as Two Lakh Kirana Stores Shut Down, Welcomes New FDI Rule
Karnataka MP Kumar Naik has highlighted a worrying trend, claiming that nearly two lakh kirana stores have shut down nationwide, raising concerns about the health of small retail businesses. He emphasized that these closures are affecting local entrepreneurs, employment, and the traditional supply chain that serves millions of households across the country.
At the same time, Naik welcomed the 30% procurement rule for Single Brand Retail under FDI norms, noting that it encourages sourcing from MSMEs and local producers, thereby supporting small businesses and strengthening domestic supply chains. He said this policy could help revive local retail by integrating local manufacturers into global value chains, creating opportunities for growth and sustainability.
Naik urged policymakers to balance FDI expansion with protections for traditional kirana stores, ensuring that modern retail does not undermine small businesses but instead complements and empowers them in a competitive market.
