BJP opposes FDI in retail

Sep 15, 2012 |

Bengaluru

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The BJP on Saturday vehmently opposed the decision to allow FDI in retail trade and charged the government with taking the decision at the behest of "foreign pressure".

"FDI in retail is not the need of the country at this moment. As far as Walmart is concerned, they won't come for charity. They are coming for profit. They want market. Allowing FDI for infrastructure development is not true," BJP spokesman Prakash Javadekar told a press conference here.

Allowing FDI in multibrand retail will result in lot of unemployment and farmers will not be benefited, he said demanding that Government withdraw the decision.

Lashing out at UPA government for diesel price hike and cap on LPG cylinders supply, Javadekar who demanded immediate roll back of the prices remarked 'the Central government, I think, has lost the nerve and they are now taking all anti-people decisions in one go'.

"The decision to hike prices of diesel, LPG and allowing FDI in retail trade and the slew of measaures announced tell very clear story that they are in a hurry to finish their own agenda", he said.

He accused the Centre of deciding on FDI 'at the behest of foreign pressure' and added a similar measure in allowing FDI in single brand ten years ago has not led to flow of investments.

Javadekar pointed out that it was anticipated that 40 billion dollars of investment will flow into the country when FDI was permitted in single brand, but not even 40 million came into the country.

The BJP leader said his party was not opposed to FDI per se, but opposed in retail trade.

"We want FDI in technology and strategic sector," he said.

He expressed doubts over the claim of the Centre that state governments are allowed to decide on permitting FDI in their states and said 'India has bilateral investment treaty with 82 countries. You can't restrict if FDI is allowed as the country is taken as a unit and not states'.

He reiterated his party demand for Prime Minister Manmohan Singh resignation on coalgate scam and also an independent impartial probe into it.

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