Home > News > More News

NDA to reject FDI in retail if voted to power: Sharad Yadav

Posted on Dec 08, 07:48PM | UNI

Janata Dal (United) president and NDA convenor Sharad Yadav today said if the alliance is voted to power in the next general elections in 2014, it will reject the UPA government's notification allowing 51 per cent foreign direct investment (FDI) in multi-brand retail trade.

In a statement, Mr Yadav said a policy will be made to upgrade and modernise the domestic trade after holding due and proper consultations with all stakeholders of the retail trade.

"Though technically the issue has gained majority by the manipulative tactics of the government but the last verdict on this important issue will be given by 120 crore people of the country," he said commenting upon the Congress-led government's win in FDI vote in Parliament.

Mr Yadav said FDI in retail was nothing but to put a 'lock' on the stomach of crores of people including farmers, small shopkeepers, hawkers, street vendors, small industries, labourers and other sectors of retail trade.

He alleged that the Centre's decision was taken under the pressure of global retailers and it will cause a major damage to the Indian economy and retail trade.

"If the NDA is voted to power it will ensure better and due prices to the farmers for their produce," Mr Yadav added.