Varanasi, Jul 25: Terming the government's move to allow FDI in retail sector as “dangerous” for small traders, senior BJP leader Murli Manohar Joshi on Sunday said the party will strongly oppose it in the monsoon session of Parliament and take the issue to the people.
“It is the agriculture and retail sectors which account for maximum number of employment. Half of our population comprising small traders, street-vendors and the self-employed sustain themselves through retail businesses.
“Despite knowing this fact, the UPA government has succumbed to foreign pressure and allowed 51 per cent foreign direct investment (FDI) in the sector which is a dangerous thing for the small traders,” Joshi told reporters here. He said “we will strongly oppose this move in the monsoon session of Parliament and take this issue to the people”.
The Committee of Secretaries (CoS) had on July 22 recommended up to 51 per cent FDI in the politically-sensitive multi-brand retail.India has already allowed foreign direct investment (FDI) of up to 51 per cent in the single brand retail and 100 per cent in cash and carry format of the business. PTI