BJP opposes FDI in retail market

Bhubaneswar: Opposing Foreign Direct Investment (FDI) in retail sector, senior BJP leader Murli Manohar Joshi today said UPA government had no price policy to check the ever increasing inflation in the country.

"We are opposed to FDI in retail market as it will instantly kill all small traders and farmers in the long run. BJP will oppose it in Parliament and outside", Joshi told reporters here. Retail market, which provides maximum employment after agriculture, Joshi said, should not to be opened to big investors as the local traders would not be able to stand the competition. "Experience says that small traders perished where major retail market leader like Wall Mart opened their shops."

Allowing FDI in vegetable trade would certainly leave many small traders to stop their business and therefore adding to the big army of unemployment in the country, the BJP leader said. "As the chairman of the standing committee, we had opposed to FDI in the retail market. But the Centre did not pay any importance to the standing committee report. The present decision of the Union Cabinet will certainly destroy the economic structure of the country," he said.

Joshi said "the finance minister had said that India could be saved from the adverse impact of the international meltdown as the country was not fully linked to the world." But allowing FDI in retail sector the government would fully link the country to the global economy.