FDI in multi-brand retail will increase unemployment: AGP
Guwahati: Opposing the Centre`s decision to allow FDI in multi-brand retail, the Asom Gana Parishad Monday said entry of international players in the sector will make lakhs of youths unemployed in states like Assam.
Assam is one of the few states which has expressed support for allowing foreign retail companies to open stores.
AGP president Prafulla Kumar Mahanta told reporters here, "FDI in multi-brand retail will completely destroy local retail outlets making lakhs of youths unemployed, especially in Assam and other northeastern states where industrialisation is almost zero and retail is a major avenue for unemployed youth to earn their livelihood.
"When investors were given facilities in the northeast, they were asked to invest a certain portion of the profit they earned back in the region. Has the UPA government set any such condition for the global retail players?" he said.
to decide for or against allowing multi-national retail chains to invest in respective states in not enough.
"Prime Minister Manmohan Singh said it is up to state chief ministers to decide if they want FDI in multi-brand retail. But can he say that subsequent governments in states can negate their predecessors` decision and send them (companies) back?" he said.
The former two-time chief minister said Indian business houses would not be able to compete with giant American retail players due to high domestic rates of interest in India.
More from India
More from World
More from Sports
More from Entertaiment
- Zee Media exclusive chat with 'Welcome to Karachi' cast
- Manali: Heavy corruption found in environmental taxes
- UP Minister allegedly threatens, abuses Gonda businessman
- UP: Jammu-bound Muri Express derails in Kaushambi
- Five unmanned parachute-like objects spotted over Mumbai airport
- Aapke Sitare: Astro prediction for May 24, 2015
- Watch: Fast N Facts @ 7:30pm
- CBSE Board Class 12th Exam Results 2015 declared
- Dawood's intercepted phone calls prove yet again he is in Pakistan
- One year of Modi govt: How satisfied is the common man?
- Jaipur girl Mini Rajpal wins Miss India Deaf 2015!
- Mumbai architecture creates double decker bus from scrap!
- One year of Modi govt: How satisfied is the common man? Part-2
- Delhi's 2015 CBSE Class 12 topper M Gayatri talks to Zee Media
- One year of Modi govt: PM addresses mega rally in Mathura
- IPL 2015 Final: MI vs CSK - As it happened...
- CBSE.nic.in 12th XII Results 2015: CBSE Board (cbseresults.nic.in) Class 12th XII Exam Results 2015 to be announced on May 25
- Heatwave continues in North India; death toll in Andhra Pradesh, Telangana more than 400
- IPL 2015 final: Mumbai Indians thrash Chennai Super Kings by 41 runs to lift second title
- Heatwave claims over 550 lives so far, Delhi saw hottest day
- LIVE - Cbse.nic.in & cbseresults.nic.in Class 12th XII Results 2015: CBSE Board Class 12th XII Exam Results 2015 to be announced shortly
- Cbse.nic.in & cbseresults.nic.in Class 12th XII Results 2015: CBSE Board Class 12th XII Exam Results 2015 declared
- Check cbseresults.nic.in for CBSE Class 12 result 2015
- Two dead, over 100 injured as Muri Express derails in UP; Prabhu announces Rs 2 lakhs ex-gratia for kin of dead
- Mathura rally: PM Modi slams 'corrupt' UPA regime, lauds NDA govt's efforts in past one year
- CBSE Class 12 results out: Here's how you can check
- PM Narendra Modi's Mathura rally: As it happened
- Check WBBSE (wbresults.nic.in) Class 12th Results: West Bengal Board (wbscvet.org) Higher Secondary Class XII Vocational Results to be declared today at 4 PM
- Public rally on 100 days of AAP govt: As it happened
- CBSE Board 12th XII Results 2015: Cbse.nic.in & cbseresults.nic.in Class 12th XII Exam Results 2015 to be announced today at 12 Noon