Odisha wants rollback of FDI decisionNovember 28th, 2011 - 7:02 pm ICT by IANS
Bhubaneswar, Nov 28 (IANS) Odisha Chief Minister Naveen Patnaik Monday criticised the central government for not consulting states before allowing foreign equity in the retail sector and demanded that it be withdrawn immediately.
“In a federal country like ours, the union government should not have taken such a major policy decision without adequate consultation with the state governments,” Patnaik said in a letter to Prime Minister Manmohan Singh.
“You will no doubt agree with me that the biggest challenge facing the country today is the persistent double digit inflation which is adversely impacting the life of the common man,” Patnaik wrote in the letter he sent Monday.
“Instead of taking immediate steps to tackle this problem, the central government has now allowed FDI in a sector which provides employment to a major section of the workforce of the country,” he wrote.
“This move will only favour the large multinational corporations which will have monopoly over trade in this country,” he stated.
“Instead of that, the government should have strengthened the marketing opportunities for farmers and small-scale manufacturers. In our considered view this policy is ill advised and highly regressive. I would, therefore, earnestly request you to reconsider the matter and withdraw this policy immediately,” he wrote.
India Thursday allowed global chains like Wal-Mart, Carrefour and 7-Eleven to bring up to 51 percent foreign equity to open multi-brand retail stores and allowed 100-percent equity in single brand format.
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- FDI pause wins peace in parliament, disappoints India Inc. (Roundup) - Dec 07, 2011
- French retailer Carrefour opens first wholesale store in India - Dec 30, 2010
- 'FDI will help modernise retail sector, curb inflation' - Jul 23, 2011
- India's retail stocks open strong after foreign equity nod - Nov 25, 2011
- India opens doors to global retail chains (Roundup) - Nov 24, 2011
- Shopkeepers protest but shoppers don't mind foreign retailers (Afternoon Lead) - Dec 01, 2011
- FDI move will ruin Indian retail trade: CPI-M - Sep 21, 2012
- Don't open multi-brand FDI in retail, PM told - Jul 22, 2012
- Only 4 states, UTs support FDI in retail: Government - Aug 08, 2012
- States have prerogative not to allow FDI in multi-brand retail: Government - Sep 18, 2012
- Comments from India Inc. on foreign equity in retail trade - Nov 25, 2011
- Wal-Mart to target 35,000 Indian farmers for agri-business supply chain by 2015 - Oct 26, 2010
- Anand Sharma writes to parties clarifying FDI stance - Nov 28, 2011