news from the cpi(m)
May 25, 2010
Press Statement
The Communist Party of India (Marxist) and the Communist Party of India
have issued the following statement:
No FDI In Retail Trade
The Central Government is once again considering the opening up of
multi-brand retail trade to Foreign Direct Investment. The Department of
Industrial Policy & Promotion is pushing for such a move.
Retail trade in the country employees lakhs of people, whose livelihood
will be jeopardized if big foreign companies like Walmart and Tesco are
allowed into the retail trade.
It is strange that the UPA government is contemplating this step when the
Congress Party itself has taken a stand against the entry of foreign
companies in retail trade as stated in its resolution in the AICC session
held in Hyderabad in 2006.
The Left parties have consistently opposed the entry of foreign companies
into retail trade. A wide spectrum of political parties, retail trade
associations and public opinion is against such a move.
The UPA government should desist from allowing FDI in multi-brand retail
trade.
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