BJP not perpetually against FDI, says Jaitley
January 18th, 2012 - 8:38 pm ICT by IANS ( Leave a comment )
New Delhi, Jan 18 (IANS) The Bharatiya Janata Party had been on the forefront of opposing foreign direct investment (FDI) in multibrand retail but is not “perpetually” against it, party leader Arun Jaitley said Wednesday.
Speaking at the annual general meeting of industrial chamber FICCI, Jaitley said the present situation was not right for FDI in multibrand retail.
“When international companies will enter retail, their sourcing will also be international. Without becoming a cheap manufacturer, the sourcing will go to countries which manufacture cheaper goods,” Jaitley said in reply to a question.
“Our manufacturing sector will suffer,” he said, adding that steps were first needed to boost the country’s manufacturing sector.
He added that the fears of job losses were also a major factor.
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- PM speaks to Trinamool, DMK on FDI (Lead) - Nov 30, 2011
- India opens doors to global retail chains (Roundup) - Nov 24, 2011
- BJP open to discussing FDI in multi-brand retail - Dec 21, 2011
- Anand Sharma writes to parties clarifying FDI stance - Nov 28, 2011
- India allows 100 percent FDI in single brand retail (Roundup) - Jan 10, 2012
- FDI in retail not to hurt kirana stores: Virbhadra Singh - Dec 02, 2011
Tags: annual general meeting, arun jaitley, bharatiya janata party, fears, ficci, forefront, foreign direct investment, job losses, manufacturing sector, New Delhi, party leader, reply
