Traders oppose FDI in retail

Worried over the Foreign Direct Investment (FDI) in retail sector, various traders organizations of Jammu region have decided to support the ‘Bharat Bandh’ call, jointly given by Confederation of All India Traders and Bharat Udyog Vyapar Mandal, for December 1.

While criticizing the working pattern of Best Price Shop (a Bharti Walmart joint venture), the Associated Chamber of Traders Federation (ACTF) president Yashpaul Gupta said that these Multi National Companies (MNCs) were selling certain items at cheaper rates, but this would continue only for few days in the beginning to attract the general public.  Slowly and steadily they would change their policies, he said.

“The ramifications of the opening of shops by these MNCs in country will be visible only after few years. Once these companies are able to attain monopoly in wholesale and retail sector, they would start charging as per their whims. At that time the general masses would be left with no option but to purchase the items from these outlets at the prices fixed by these MNCs,” he warned.

He further said that in the beginning these MNCs outlets would sell the items, which are already available in the market but once the local market vanishes from the scene, these companies would sell the products from their own manufacturing units and those too at exorbitant rates.

“These MNCs have a very long chain and also have collaboration with several industries. These industries also produce all kinds of goods including grocery items, confectionary items, electrical appliances, textiles, eatables and after monopolizing the markets, they will give concession only on their own products,” he said.

He further said that there were around 5 Cr retail shopping outlets in entire country and around 20 Cr families were depending on these outlets. “After the approval of FDI in retail sector, the new outlets of MNCs in every city would result in the closure of those local outlets,” he said and added that the unemployment in entire country would increase manifold.

Other trader organization members, endorsing his statement, stated that there were negligible benefits of allowing FDI in retail but there were numerous drawbacks of the said policy. They announced their decision to support the ‘Bharat Bandh’ call for December 1 and also appealed the people of entire Jammu region to observe shutdown on that day.

Oldest Shopping Centers in Srinagar

With the number of shopping malls and markets adding up each day across the Valley, the oldest shopping centers seem to have been lost into oblivion. Maharaj Gunj market happens to be one such market which is gradually being lost to history. The market, located in old city along the banks of river Jhelum, has been established between 1868-1870’s by then Maharaja of Kashmir, Maharaja Ranbir Singh.Before the establishment of Maharaj Gunj, market surrounding the Jamia Masjid mosque was leading market when Kashmir was ruled by Sultans.“Jamia Masjid was the main market of the Valley. Since old city was only civilized part of the Valley, Jamia market was main market,” said Abdul Gaffar, an old shopkeeper at Jamia Majid.The market would be visited by people from city outskirts as well to shop.“On Fridays, people will throng to this place to shop and pray as well,” he adds.However when Maharaja Ranbir Singh ruled Kashmir, Maharaja Gunj was set up to pay the money lended from businessmen in Punjab fro sales deed. “During the sale deed of 1846 of Kashmir, Maharaja had lended Rs 16 lakh from businessmen in Punjab. But since Maharaja could not pay it back, he asked those traders to do business in Kashmir in exchange for the debit,” says Zareef Ahmad Zareef, writer.

A full fledged market was set up for the Punjab traders. The name of the market was changed from “Azz Baboon trag”, named after one of the richest person of the areas, to Maharaj Gunj The shops are given to the traders along with few rooms for residing and market started. It flourished as the leading market of the Valley, giving a hit to Jamia market. People started thronging to Maharaj Gunj for shopping and trading. Its location at the bank of river Jhelum, which facilitated trade, added to its business. Valley’s first police station was also started in Maharaj Gunj, named S.R Gunj police station. The traders were allotted land for building residence, namely Shivpora, Wazir bagh and Rammunshi Bagh.

However the development of the Srinagar city and coming up of new markets gave a below of Maharaj Gunj. Additionally, the government inattention towards the development of the market and facilities pushed Maharaj Gunj into stupor. “We do not have proper transport system which is a major hurdle. How can people come here when we have no transport? ”said Abdul Gaffar.He alleged government for ignoring the historic market “They are building new mall s and market but no one pays attention to Maharaj Gunj which is a historicplace,” says another shopkeeper at Maharaj Gunj.

Super Bazar celebrates Cooperative Week

Commissioner, Cooperative Department Abdul Hamid Wani today stressed upon the workers of Cooperative Societies to work with missionary zeal to meet desired results under the cooperative movement. He said a vibrant and profitable cooperative society would serve the interest of all the stakeholders.

The Commissioner was speaking at a function organized by the Super Bazar Jammu in connection with celebration of All India Cooperative Week, here today.

He said the cooperative is a people's movement and aims at to remove the middlemanship, besides providing essential commodities to the consumers at competitive prices. He said the Government has taken several measures to strengthen the cooperative movement in the State. He asked the people to set up cooperative societies in their respective areas as these will serve their mutual interest.

Registrar Cooperatives J&K, Mohammad Abass Dar, General Manager, Super Bazar Jammu Ramkesh Sharma, Chairman Cooperative Union Rajesh Bitoo and Ex-Corporator Rajesh Bakhshi spoke on the occasion and highlighted the achievements of the Cooperative Societies.

Earlier, General Manager, Super Bazar Jammu in his welcome address listed achievements of the organisation. He said that the organization registered a whopping ` 3.32 crore turnover during 2008-09, ` 5.13 crore in 2009-10 and ` 8.61 crore during the year 2010-11. He said the institution expects a business turnover of more than ` 10 crore during the fiscal.

Walmart Opens store in Jammu

Chief Minister, Omar Abdullah, today inaugurated first wholesale cash and carry store of the Bharti Walmart, the joint venture between Bharti Enterprises and Walmart Stores, in Jammu.

Speaking on the occasion, Mr Omar said, "Jammu and Kashmir is now on the Walmart map of the world. Our State is now ahead of Delhi and other metro cities of the country, where such stores are yet to be opened".

He suggested that Bharti Walmart should make procurements from the local manufacturers and producers so that they must get benefited with the opening of this wholesale store. "If the company starts making procurement of even one per cent of the product, which is being procured from the farmers in Punjab, it would make huge difference for the farmers of Jammu and Kashmir", he added.

"The opening of the Bharti Walmart wholesale store will give a message countrywide that Jammu and Kashmir is now open for business", the Chief Minister said.

Earlier, Mr Omar accompanied by Rajan Bharti Mittal, Chairman Bharti Walmart and Raj Jain, MD and CEO of Bharti Walmart, took the round of the store and was briefed that Best Price Modern Wholesale store in Jammu will offer best fixed and fair prices with unmatched convenience, choice, quality, hygiene and selections.

Later, addressing media-persons, Mr Mittal said that the opening of store will add value to the economy of the State and will also source products locally besides creating direct and indirect employment opportunities for over 600 people. "Our key focus will be to add value and provide momentum to the local industry and offer our valued members great quality at affordable prices", he added.

Spread over 53,000 square feet area at Top Sher Khanian near BSF camp on Akhnoor road, the Best Price Modern Wholesale store is a one-stop business-to-business store that meets the day-to-day needs of restaurant owners, hoteliers, caterers, fruit and vegetable resellers, Kiryana stores, offices and institutions, Mr Mittal said.

Best Price Modern Wholesale store will stock over 6,000 items, including a wide range of fresh, frozen and chilled foods, fruit and vegetables, dry groceries, personal and home care items, hotel and restaurant supplies, apparels, office supplies and other general merchandise items, MD and CEO Bharti Walmart, Raj Jain said.

He further said that several products available have been locally sourced from Jammu and Kashmir. These include apples, milk and milk products, rice, baked products, oil, atta and tea and coffee.

"With the opening of store in Jammu, the ninth in northern India, we are happy to start our operations in Jammu, the primary economic centre of this State. We are confident that our wholesale prices, assortment, and services will contribute to help people save money so they live better", he said.

Kapsons opens fashion store in Jammu

Kapsons, one of the leading lifestyle stores in a venture to bring forth national and international brands under one roof for the fashion conscious customers, opened its mega fashion store in the winter capital today.

The Kapsons Mega Fashion Store at Apsara Road, Gandhi Nagar, was inaugurated by Raman Bhalla, Minister for Revenue, Relief and Rehabilitation who was accompanied by Ajaz Ahmed Khan, Minister of State for Haj, Auqaf and Fisheries, Vipin Kapoor, Senior Director, Kapsons and Darpan Kapoor, Director, Kapsons.

Ministers had a glimpse on all the brands installed in the mega fashion store and applauded the efforts of the Kapsons Directors for bringing the national and international brands for fashion conscious Jammuites and that too under one roof.

Inspite of raining, hundreds of Jammuites attended the inaugural ceremony of the mega fashion store and also had glimpse of the brands put on display in the mega fashion store.

Speaking on the occasion, Vipin Kapoor, Senior Director, Kapsons, informed that the 14,000 sft store was setup in the winter capital in association with Apsara Multiplex, headed by Krishan Kumar Gupta.

Vipin Kapoor added that the Kapsons store would feature some of the leading international brands for men, women with a wide range of casuals, formals and semi formals besides a wide variety of accessories.

"The people of Jammu can experience all the leading international brands like Calvin Klein, Tommy Hilfiger, Gant, Fcuk, Gas, US Polo, UCB, Puma, Arrow, Indian Terrain, Blackberry, Wills, Wrangler, Lee, Levis, Givo, Nino Mantelli, Nautical at Kapsons", Kapoor added.

Vipin Kapoor said that Kapsons had a modest beginning by the first generation entrepreneurs with one retail outlet in 1989 and today it has 11 Kapsons Lifestyle Stores, 100 exclusive brand outlets and four junior and 12 Krome stores.

Darpan Kapoor, Director, said that Kapsons entered Jammu in 2008 with its store for children wear, Kapsons junior in City Square Mall and because of the overwhelming response form the people of the city, they decided to bring in other international brands for adults also.

Gold Sukh opens showroom in Jammu

Gold Sukh Trade India Ltd opened its showroom today on the most auspicious day of first Navratra at 18/CC Auqaf Market Gandhi Nagar, with 24 carrat gold coins and 22 carrat Jewellery with all hall mark and BIS markings. It is the first show room of the company in the State.

Mahant Manjit Singh Ji of Dera Nangali Sahib inaugurated the showroom. A large number of people attended the function.

The Gold Sukh Trade India Ltd is a ` 500 crore company in bullion, media and hospitality industry spread over nine States with 29 branches and 7 mega showrooms.

Mohinder Singh Director of the Company, Deepak Sharma, Anurag Sharma and Rakesh Verma came from Jaipur to grace the occasion.

They were accompanied by Neeraj Kant Sharma, Gajjan Singh, Sudershan Singh Wazir and Maqsood from Jammu.

Mahant Manjit Singh inaugurating the showroom of Gold Sukh Trade India Ltd at Gandhi Nagar on Wednesday.