New Delhi, Jan 13 IANS | 2 years ago

The AAP government in Delhi Monday stuck to another of its election promises -- not to allow foreign direct investment (FDI) in retail trade.

The government of Chief Minister Arvind Kejriwal has written to the central government that it will not allow multinational companies to set up multi-brand retail stores in Delhi.

"We do agree that if there is FDI in retail, it improves the consumer's choice... But experience world over shows that it leads to loss of jobs to a very, very large extent," Kejriwal told reporters.

"Right now, the kind of situation that we see in Delhi, there is huge unemployment and the Aam Aadmi Party does not wish to increase this unemployment," he added.

Kejriwal, however, said he was not against FDI per se, saying this should be decided on a sector to sector basis.

The previous Congress government in Delhi had decided to implement FDI in retail.

(Posted on 13-01-2014)