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UPA 'backed out' on its promise on FDI in retail: Left

PTI  Chandigarh, November 25, 2012
First Published: 17:13 IST(25/11/2012) | Last Updated: 17:14 IST(25/11/2012)

The Left parties on Sunday accused the UPA government of "flagrantly backing out" from its assurance that a decision on FDI in retail would be taken only after arriving at a consensus with political parties.


They termed as "unilateral and dictatorial" the government's move of opening the multi-brand retail sector for foreign investment.

In a joint Convention of CPI and CPI (M) units of Punjab and Haryana here, the speakers decried the Congress leadership for "flagrantly backing out from its own assurance".

The speakers recounted the experiences of large corporate stores taking over the employment of ordinary people in South America, Africa, East Asia and even in USA.

It was only on account of such monopolistic role of Walmart and other players that opening of mega stores were being resisted in cities like New York, the speakers opined.

A joint resolution was adopted highlighting the "gross harmful effects" of FDI in retail, a left party spokesman said.

The resolution feared that the country's economic sovereignty shall be seriously compromised by the FDI.

"The resolution warns of large scale destruction of livelihood of millions in the agriculture sector as well as big number of urban self-employed persons as a result of giant MNCs entering into the retail trade in the country," the spokesman said.

The leaders expressed their firm resolve to thwart any forcible move imposed against the wishes of toiling masses of the country.

The speakers included Bant Singh Brar from Punjab, Bhupinder Sambar of CPI, Charan Singh Virdi and Raghunath Singh of CPI (M), Inderjit Singh CPI (M) and Daryao Singh, Harnam Singh from CPI Haryana.

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