BJP to oppose FDI in retail

BJP said FDI would render crores of people working independently in the sector unemployed.

Updated: Nov 24, 2011, 15:37 PM IST

New Delhi: BJP on Thursday said it will oppose Foreign Direct Investment (FDI) in retail, maintaining it would render crores of people working independently in the
sector unemployed.

"FDI is not required in this sector but Government is trying to bring it in this sector. Today over three crore people are working in it and earning their livelihood.
"This move will make them unemployed and a very few will be employed as servants in the retail sector, we will never accept this," BJP spokesperson Prakash Javadekar told reporters here.

He, however, said the party would give a detailed comment on the issue after seeing the bill which is to be cleared by the Union Cabinet.

Meanwhile, RJD leader Lalu Prasad Yadav said he would give his views on the issue after studying the Government proposal.

He complained about adulteration and improper storage of
food grains and vegetables.

"There are many cases of adulteration in food articles...If the food grains and vegetables are kept in cold storage and proper places, what is wrong in this," Lalu said.

The Cabinet is scheduled to consider allowing 51 percent FDI in multi-brand retail, a move which will pave the way for opening of global retail stores like Wal-Mart, Carrefour and Tesco in major Indian cities.

The FDI cap in the single brand is also likely to be raised to 100 percent.

PTI