People's Democracy

AIC Opposes FDI in Retail

The Association of Indian Communists expressed its serious concern at the decision of the UPA-II government to allow 51 per cent foreign direct investement in retail sector in India.  

In a statement, AIC acting secretary Harsev Bains stated that the experience in Britain makes it clear that introduction of FDI and multi brand retail giants will destroy the small family enterprises currently operating in the Indian retail sector. “The hard working Indians living in Britain, renowned for their corner grocery shops, have not only witnessed, but are the victims of the devastation caused by the hyper-stores and shopping malls.  Vibrant towns and localities across Britain have been transformed into ghost towns”, the statement noted.  

The AIC rubbished the UPA-II government’s claim that this move will have little impact on existing small shopkeepers. It called upon the people to resist such patently anti-people measure.