FDI in retail will increase unemployment: BJP

Opposing the government's move to allow foreign direct investment in multi-brand retail, BJP on Friday said it will create unemployment in the country and adversely affect thousands of traders in the sector.

Opposing the government's move to allow foreign direct investment in multi-brand retail, BJP on Friday said it will create unemployment in the country and adversely affect thousands of traders in the sector.

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"FDI is not required in retail sector. Cold storage facility is not rocket science that you need FDI for it," BJP spokesperson Prakash Javdekar told reporters outside Parliament House on Friday.

The Union Cabinet yesterday allowed 51% FDI in multi-brand stores and 100% FDI in single brand stores in the country. Government has maintained that farmers will get higher remuneration and the FDI will help developing logistics and cold chains in the country.

Rubbishing government's claims, Javdekar said, "On the contrary it will create unemployment and adversely affect thousands of traders in the sector. We are against FDI in retail sector and we will oppose it."

He said in the absence of power and roads, cold chains cannot be developed.

BJP leader SS Ahluwalia said, "Two Standing Committees have given reports against the FDI in retail sector. But still the government went ahead with FDI. It must be withdrawn."