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Odisha Government opposes FDI in retail

Bhubaneswar: Opposing FDI in retail sector, Odisha government on Sunday night said that the move would only favour large multinational companies and the Centre should have consulted the states before taking such major decision.

"We are deeply distressed over the Union Cabinet`s approval for allowing 51 per cent foreign direct investment in the retail sector as it will only favour large multinational companies," a statement from the Chief Minister`s Office said.

"The biggest challenge facing the country today is inflation. In stead of taking immediate steps to tackle this problem, the Centre has allowed FDI in a sector which provides employment to 7 per cent of country`s workforce," it said.

This move will only favour the large MNCs which will have monopoly over trading in this country, it said adding instead of that the Centre should have strengthened the marketing opportunities for farmers and small scale manufacturers of the country.

Moreover, in a federal country like ours the Union government should not have taken such a major policy decision without adequate consultation with state governments, it added.

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