Addressing the House on day two of the debate, Acharia said the government must do a rethink on the issue that would further increase inflation.
"FDI is not in the interest of our country, farmers and retail sector. I urge the government to reconsider and rethink," he said.
Acharia said international experience showed that FDI did not benefit either farmers nor consumers.
"Small-scale industries were wiped off in countries that allowed FDI in retail. FDI will further increase inflation," he said.