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Cong-ruled Kerala says no to retail FDI cash transfer plan

HT Correspondent, Hindustan Times  Thiruvananthapuram, December 14, 2012
First Published: 00:00 IST(14/12/2012) | Last Updated: 01:44 IST(14/12/2012)

Kerala chief minister Oommen Chandy has reiterated that his government would not allow foreign direct investment in multi-brand retail.


"We will not allow retail giants like Walmart to open their outlets here. There is no change and no confusion on this," the CM told the assembly on Thursday while replying to an adjournment motion moved by the opposition Left Democratic Front.

"We have already informed the Centre about our position."

On December 7, the ruling UPA defeated the Opposition motion against its decision to allow 51% FDI in multi-brand retail. When the Opposition tried to corner him saying, in Parliament, Congress MPs from the state had voted in favour of FDI, the CM said they did so because of the party whip.

Chandy said the Centre had allowed states to decide on the issue, adding that his government would not hurt small traders.

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