People's Democracy

‘Adhere To Assurances On FDI In Retail’

Yechury Writes To PM

Sitaram Yechury, leader of the CPI(M) group in Rajya Sabha, wrote the following letter to prime minister Dr Manmohan Singh on October 5, 2006 regarding permitting FDI in the retail sector.

I AM writing to you regarding permitting FDI in the retail sector.

Enclosed is a media report which states that the FIPB has cleared a London based Alfa Airports Groups proposal to invest in travel retail which includes duty free outlets, flight kitchens and food and beverage outlets at airports.

In the UPA, government, Left parties coordination committee meeting yesterday it was reiterated that FDI in retail will not be allowed across the board. In fact, in Para 3 under section of Foreign Capital, the note circulated to the coordination committee meeting yesterday by the government, states “The government has allowed FDI in Retail in Single Brand only to expose, in a very limited way, the Indian economy to the international trends, to gear them to take the best in the world, and also provide a wider choice to the consumers”.

The media report however appears to be contradicting this assurance given by the UPA government yesterday in the meeting.

I hope that the UPA government will adhere to the assurances made at the meeting yesterday on this score. (INN)