BJP to oppose FDI in multi-brand retail

BJP today made it clear that it will oppose entry of Foreign Direct Investment in multi-brand retail in the country as it will be an "injustice" to small traders.

Addressing a protest organised by Traders Cell of BJP, BJP leader L K Advani said permitting foreign brands to do retail trade in India was an injustice to retailers as it leave many small traders jobless.

Accusing the UPA government as being overly ambitious and paying no heed to the demands of small traders, he said, "The BJP won't compromise its stand on FDI in retail and it won't allow the government to bring in foreign companies to do trade in India."

BJP President Nitin Gadkari said the country's economic condition was in a "sorry state" because of UPA government’s "wrong economic policies, corrupt practices and visionless leadership".

Claiming that the government has "lost reputation and goodwill' to continue in the office, he claimed only a BJP-led government could guarantee good growth rate, high per capita income and strong agricultural growth.

"The UPA government is anti-trader, anti-farmer and anti-people. It promised to bring down prices in the first 100 days after being elected but instead, inflation has only gone up. It has forced farmers to commit suicides and its inability to take appropriate decisions has affected the country," Gadkari said, adding that the UPA government is like a patient battling for life in an hospital ICU.

Former BJP national president Rajnath Singh claimed the government was pressing for FDI in retail despite a report saying it is a failure. "If FDI is introduced in retail sector, it will break the backbone of Indian economy," he said.

He cited a reply in Parliament by Minister of State for Commerce and Industry Jyotiraditya Scindia which talked about Switzerland-based UNI Global Union report--'Wal-Mart's Global Track Record and the implication for FDI in multi-brand retail'.

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