(Weekly Organ of the Communist Party of India (Marxist)
May 30, 2010
No FDI in Retail Trade
Communist Party of
THE central government is once again considering the opening up of multi-brand retail trade to foreign direct investment. The Department of Industrial Policy & Promotion is pushing for such a move.
Retail trade in the country employs lakhs of people whose livelihood will be jeopardised if big foreign companies like Walmart and Tesco are allowed into the retail trade.
is strange that the UPA government is contemplating this step when the
party itself has taken a stand against the entry of foreign companies
trade as stated in its resolution in the AICC session
The Left parties have consistently opposed the entry of foreign companies into retail trade. A wide spectrum of political parties, retail trade associations and public opinion is against such a move.
The UPA government should desist from allowing FDI in multi-brand retail trade.