FDI decision rude shock to small traders: AIADMK

Opposing the government decision on foreign direct investment (FDI) in retail, the AIADMK on Wednesday termed it to be a rude shock for the number of traditional small traders in the country.

Opposing the government decision on foreign direct investment (FDI) in retail, the AIADMK on Wednesday termed it to be a rude shock for the number of traditional small traders in the country.

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"The government's decision is a rude shock for the number of traditional small traders. The chief minister of Tamil Nadu right from the beginning has showcased her apprehensions. AIADMK opposes this," AIADMK member M Thambidurai said.

Participating in the debate in the Lok Sabha, he said: "We do not want any foreign companies in India, because our Indian money goes out."

"It will endanger the lives of 40 million people in the country. FDI will lead to cheap products initially. However, it will cause inflation once the foreign companies get a stronghold in trade," Thambidurai said.

He also questioned the DMK, which is a constituent of the Congress-led United Progressive Alliance (UPA). "How can you support foreign direct investment in retail in Lok Sabha, when opposing the same in Tamil Nadu? You should not play double game."