The Karnataka state government has revoked German Retailer Metro Cash & Carry’s market yard licence after strike action by wholesalers in the region.
In protest of the licence more than 3,500 wholesale shops in three main markets in Bangalore ceased trading, according to a report in the Business Standard.
Moving quickly the state government cancelled the licence it had issued on 18 January 2011.
'We met the chief minister for the last two days and apprised him of the grave situation of the traders. He was convinced with our argument that the private market licence issued to Metro would harm the traders’ interests and in no way benefits the farmers,” Bangalore Wholesale Food Grains & Pulses Merchants’ Association president Ramesh Chandra Lahoti told the newspaper.
Mr Lahoti said the trading would resume as normal following the Karnataka state government’s decision to revoke the licence.
