FDI in retail will be a tsunami for economy: Karunanidhi
November 28th, 2011 - 7:45 pm ICT by IANSChennai, Nov 28 (IANS) Foreign Direct Investment (FDI) in retail will be a tsunami that will hit the country’s economy badly, said DMK president and former Tamil Nadu chief minister M.Kaunanidhi Monday.
In a statement issued here, Karunanidhi urged the central government to withdraw its proposal of allowing FDI in multi-brand retail outlets, and said Indian economy would face a tsunami-like situation due to it.
“It is dangerous to allow FDI in retail sector as it would affect lakhs of small traders, poor and middle class consumers,” he said.
He said DMK has been opposing FDI in retail even when it was originally mooted.
The DMK is a key member of the United Progressive Alliance (UPA) government at the centre and party MP and Karunanidhi’s son, M.K. Alagiri is a cabinet minister.
- Tripura government opposes FDI in retail - Nov 30, 2011
- We will protect shopkeepers against FDI: Karat - Jan 20, 2012
- Strike against FDI in retail affects life in Tripura - Dec 01, 2011
- Recall of retail FDI regressive, disappointing: India Inc (Roundup) - Dec 07, 2011
- PM speaks to Trinamool, DMK on FDI (Lead) - Nov 30, 2011
- Anand Sharma writes to parties clarifying FDI stance - Nov 28, 2011
- Ally Trinamool joins BJP, Left in opposing FDI in retail - Nov 24, 2011
- DMK ministers to submit their resignations to PM - Mar 07, 2011
- Tamil Nadu not to allow FDI funded retail outlets - Nov 27, 2011
- Industry feels let down with recall of FDI in retail - Dec 07, 2011
- DMK has no expectations of patch with Congress over seat sharing: Alagiri - Mar 06, 2011
- DMK's Alagiri, Maran meet Sonia - Mar 08, 2011
- DMK's Baalu to attend UPA second anniversary - May 22, 2011
- Ministers to resign Monday, no contact from Congress: DMK (Night Lead) - Mar 07, 2011
- Congress-DMK talks on seat sharing continue - Mar 08, 2011
Tags: alagiri, cabinet minister, central government, chennai, chief minister, consumers, dmk, fdi in retail, fdi in retail sector, foreign direct investment, indian economy, karunanidhi, mp, progressive alliance, proposal, retail outlets, small traders, tamil nadu, tsunami