Foreign retailers no threat'

The Parliament on Wednesday was reported about the loss incurred by three major retailers of the country – Reliance Fresh, Bharti Retail and Aditya Birla Retail. Their individual losses were:

 Reliance Fresh – Rs 345.82 crore during 2010-11

Aditya Birla Retail – Rs 423.1 crore during 2010-11

Bharti Retail – Rs 394.32 crore in the year 2011.

Minister of State for Commerce & Industry S Jagathrakshakan has stressed that the local retailers have existed in harmony with the large format retail chains and will not be affected by the advent of foreign retail players.