Asking for a level playing field for six crore small shopkeepers, Metro Cash & Carry India CEO and MD Arvind Mediratta on Friday said the government should look into the deep discounting practices of "top three global retailers".
These global retailers have deep pockets and lost around USD 6 billion (around Rs 45,000 crore) in the Indian market last financial year as they are selling below cost, he said at the CII India Retail Summit here.
"One of the areas where I would seek intervention from the government to make sure that there is level playing field because some of them (global retailers) have very deep pockets and probably they can sustain losses for probably another 10 years," he said.
In next 10 years, a kirana store or small shops selling goods like garments or footwear may not survive, he said.
"We have seen in the other markets also, in the US market, once small retailers disappear, the big retailers suddenly start increasing prices," said Mediratta.
Seeking long-term sustainable solutions, Meridatta said these big retailers want profit and are not here for charity.
"They are interested in India because India is a big market. Prices are low, because they are buying market share selling below cost. There are people who are selling sugar at Re 1 per kg from last one year. Is that sustainable? Can kirana stores compete with that?