Nitish opposes FDI in multi-brand retail

Bihar CM Nitish Kumar opposed UPA government`s decision to allow 51 per cent FDI in multi-brand retail and said on Wednesday the measure will directly affect the crores of domestic retailers and their families adversely.

Last Updated: Sep 19, 2012, 18:45 PM IST

Betiah (Bihar): Bihar Chief Minister Nitish Kumar opposed UPA government`s decision to allow 51 per cent FDI in multi-brand retail and said on Wednesday the measure will directly affect the crores of domestic retailers and their families adversely.
"The foreign retailers will not only destroy the domestic traders, but take away the hard-earned money of the people to their respective countries," he said.
If FDI has to be allowed then it should be asked for investment in infrastructure sector like roads, ports and power plants as in that case the capital investment would remain in the country.

PTI