PMK’s Ramadoss opposes FDI in retail

November 25th, 2011 - 11:23 pm ICT by IANS  

Chennai, Nov 25 (IANS) Opposing the central government’s move to allow 100 percent foreign direct investment (FDI) in the single-brand retail sector, PMK founder S. Ramadoss Friday said the decision should be reversed in the interests of small retailers and small scale units.

In a statement, Ramadoss said: “In order to show to the world that it can take policy decisions the central government has taken this grave decision which will affect small retailers.”

He said the big global retailers will not follow the government stipulation of sourcing 30 percent of its merchandise from small scale units but would import and retail cheap China products thereby affecting the domestic industries.

–Indo Asia News Service
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