FDI relaxation means mass starvation: Kamal Sharma

  • HT Correspondent, Hindustan Times, Chandigarh
  • |
  • Updated: Aug 02, 2013 21:38 IST

Opposing the Centre's latest relaxations for foreign direct investment (FDI) in the retail sector, Punjab BJP president Kamal Sharma has said it will lead to the starvation of 20-crore Indians.

India will become a place for dumping cheap Chinese products, the leader has predicted. In a press release issued here on Friday, he has suggested that Punjab Congress president Partap Singh Bajwa, state Congress Legislature Party (CLP) leader Sunil Jakhar and former chief minister Rajinder Kaur Bhattal stage a dharna outside the residence of all-India Congress president Sonia Gandhi to oppose this decision.

"Earlier, the FDI was not permitted in cities of under 10-lakh population and now the government has paved way for foreign companies to loot even smaller cities," Sharma stated, adding that the foreign giants would also no longer be required to procure 30% of the goods sold in India from local manufacturers.

"Foreign companies' dumping cheap Chinese goods in the Indian market will shut 5-crore small enterprises, starving 20-crore Indians and destroying Indian industry," said Sharma.

Earlier, the foreign companies needed to spend 50% of total investment on back-hand infrastructure but now the rule is restricted to one time. "With only a few months left for it tenure to complete, the union government has no moral right to take any long-term policy decision that will affect crores of people," said Sharma.

 

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