FDI will increase unemployment: Mulayam Singh

Samajwadi Party (SP) leader Mulayam Singh Yadav Tuesday said FDI in retail would increase unemployment and asked the government to roll back the policy.

Samajwadi Party (SP) leader Mulayam Singh Yadav Tuesday said FDI in retail would increase unemployment and asked the government to roll back the policy.

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Recalling that Mahatma Gandhi was against foreign goods, the SP leader asked the Congress party to follow his teachings.

"As far as FDI is concerned, how much so ever you explain, it is not in favour of the country," Yadav said while participating in the debate in the Lok Sabha on FDI in retail.

"We are speaking for the people, it is not in favour of the country. Thirty crore people will be unemployed," he said.

He also questioned how the US gained from organised retail.

"If this was good and beneficial, why is America in trouble? Why are people unemployed there," he asked.

Recalling Mahatma Gandhi's policy of "swadeshi" (indigenous), he said: "When Gandhiji burnt foreign clothes, they were of good quality. A Britisher asked why was he opposing it. He said, 'we are doing it to save our handlooms'. Please listen to Gandhi, he was in favour of swadeshi."

The SP is extending outside support to the UPA government.