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FDI in retail would lead to slavery: INLD

Last Updated: Monday, December 10, 2012 - 22:48

Hisar: Haryana`s principal opposition party INLD on Monday claimed that foreign investment in multi-brand retail would push the country back to pre-Independence era.

"Once multi-brand retail gets fully established in our country, it will lead to slavery once again," said Ajay Chautala, while addressing party workers here today.

The FDI shall ruin the retail traders of the country. If Walmart can spend whopping amount for merely lobbying... one can easily imagine the future of Indian trade and economy," Chautala said.

The Congress party is adamant to create the situation of pre-Independence period by inviting the foreign companies, he said.

Talking about the recent Walmart issue, Chautala demanded a fair probe into the matter.

Chautala said they had been opposing FDI in multi-brand retail as they knew it was not in country`s interests and would adversely hit the small farmers and traders.

According to the reports filed by Walmart with the US Senate, the company has spent close to USD 25 million (about Rs 125 crore) since 2008 on its various lobbying activities, including on the issues related to "enhanced market access for investment in India".

He also flagged off the Jan Chetna rally of party workers led by Umed Lohan, district chief of INLD.

"The Congress has become puppet in the hands of multinational companies and its leaders have created a new record in graft," the INLD leader alleged.


First Published: Monday, December 10, 2012 - 22:48

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