SAD says no to FDI in retail sector
Amritsar: Shiromani Akali Dal Monday said it had extended its support to Foreign Direct Investment (FDI) in wholesale as it would be beneficial to the farmers and traders removing the middlemen from the cycle.
However, the party is not in favour of FDI in retail as it would affect the survival of crores of retailers dependant on their neighbourhood shops.
"Shiromani Akali Dal had supported FDI in wholesale as it felt that it would be beneficial to the retailers, farmers and traders removing the middlemen from the cycle.
"But in the case of FDI in retail, there was a question mark on the life and death of crores of retailers dependant on their neighbourhood shops," SAD leader and Punjab deputy chief minister Sukhbir Singh Badal said while inaugurating a Metro Cash and Carry store here.
Headquartered in Dusseldorf, Germany, METRO Cash and Carry is a sales division of METRO group, one of the largest international retailing companies.
Badal alleged that Congress-led UPA government was running away from vote in Parliament on the crucial issue of FDI in retail sector as it was fearing threat that even its allies would not support the government on the issue.