Why the BJP, Left are opposing FDI in retail

November 25, 2011 13:32

Here's why the Opposition is against FDI in retail leading to adjournements in Parliament. The BJP has been opposing the government's move to allow foreign direct investment in multi-brand retail, saying it would create unemployment in the country and adversely affect thousands of traders in the sector.

"FDI is not required in retail sector. Cold storage facility is not rocket science that you need FDI for it," BJP spokesperson Prakash Javdekar said outside Parliament House today.

The Union Cabinet yesterday allowed 51 per cent FDI in multi-brand stores and 100 per cent FDI in single brand stores in the country. Government has maintained that farmers will get higher remuneration and the FDI will help developing logistics and cold chains in the country.

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