FDI may be good for America, not India, says Badal | india | Hindustan Times
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FDI may be good for America, not India, says Badal

india Updated: Sep 25, 2012 23:29 IST
HT Correspondent
HT Correspondent
Hindustan Times
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Opposing Foreign Direct Investment (FDI) in retail, Punjab chief minister Parkash Singh Badal said that though it must have been quite successful in developed countries such as the United States of America, it would not serve its purpose in India.

Badal, who arrived at the JCD Vidhyapeeth here for inaugurating a super speciality hospital and trauma centre owned by Indian National Lok Dal leader Om Prakash Chautala, said, “If FDI comes, biggies would eat into the share of small fries, which would be against the idea of social welfare.”

Drawing a comparison to the events that occurred in the early 17th Century, Badal said, “Back then, a foreign company known as the East India Company was allowed in India to do business. What it did is known to everyone, so we rightfully oppose it.”

When asked to comment on a meeting between Samajwadi Party chief Mulayam Singh Yadav and Punjab deputy chief minister Sukhbir Singh Badal, he said, “People should not read too much into a simple meeting between the two. Beyond politics, Mulayam is a family friend, and this was just a courtesy call from his side.”

Badal said that the UPA government could crumble anytime because was an “anti-poor establishment” that had hiked the price of essential commodities several times – making life miserable for the common man.

“Since Independence, the Congress party has governed the country for the maximum period of time. This is the reason why we today have maximum unemployment, illiteracy and health issues in India,” he alleged.

Badal lauded former deputy prime minister Chaudhary Devi Lal, Chautala’s father, for taking up issues concerning the common man.