Delhi News

Delhi Assembly flays Centre for 100 per cent FDI in retail

Delhi Assembly flays Centre for 100 per cent FDI in retail

New Delhi: The Delhi Assembly on Wednesday adopted a resolution criticising the Centre’s decision to allow 100 per cent Foreign Direct Investment (FDI) in single-brand retail.

Presenting the resolution in the house, Aam Aadmi Party MLA Somnath Bharti said the decisions of the Bharatiya Janata Party-led government at the Centre have been harming the interests of the ordinary people in the country.

“Resolves to oppose the decision of the Union Cabinet to allow 100 per cent FDI in retail (single-brand) as it leads to breaking the back of small and medium traders and ultimately to economic slavery of the country,” the resolution read.

During the subsequent discussion, Delhi Rural Development Minister Gopal Rai alleged that the motive behind the FDI decision was only to make inroads for big companies in the country, which will prove beneficial for the BJP.

Rai termed the FDI as a ploy to shrink local markets and said that the BJP is trying to bring companies like “East India Company” into the country, which ended up ruling the country in the name of doing business.

“The Manmohan Singh government sold 50 per cent of the country and now (Prime Minister Narandra) Modi is selling 100 per cent,” Rai said.

However, Leader of the Opposition and BJP MLA Vijender Gupta defended the move.

“It is not true that the FDI will destroy the domestic market. It will actually make the domestic manufacturers to improve their products which will eventually benefit the buyers,” Gupta said.