'FDI in retail would hit Indian traders'
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'FDI in retail would hit Indian traders'

Last Updated: Sunday, September 16, 2012, 18:56
 
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'FDI in retail would hit Indian traders'
Bhubaneswar: Hitting out at the UPA government at the Centre for deciding to allow 51 percent FDI in the retails sector, BJP said the hurried announcement made without obtaining a consensus, would wipe out Indian traders.

Demanding immediate roll back of the decision, BJP's Odisha unit vice-president Ashok Sahu told reporters here that even the allies in the UPA are reported to be against allowing FDI in multi-brand retail.

"If FDI in retail is allowed, the retail sector of India will fold up. The consumers and producers too will be affected as these companies will neither give goods at cheaper prices, nor will the farmers benefit," he said.

This will create widespread unemployment and an economic crisis right up to the village levels, Sahu said adding in Odisha alone this "anti-people" decision will affect nearly 10 lac people.

While BJP would hold a countrywide agitation against FDI in retail and diesel price hike on September 20, its traders cell had organised an All India Protest Rally in New Delhi on August 23.

Sahu said India, with a population of 122 crores is now the biggest market in the world, and is being specifically targeted by multinationals.

"The US has pressurised the Central government to open up the investment in the retail sector, and the Centre has succumbed to it," he alleged.

PTI


First Published: Sunday, September 16, 2012, 18:56


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