‘Retail sector badly hit due to government decision’

A round table conference on Foreign Direct Investment (FDI) gave a call to launch struggle to oppose FDI taking inspiration from the Quit India movement.

The Communist Party of India (CPI) organised the round table to commemorate the Quit India movement here on Thursday.

On the occasion, CPI city secretary Donepudi Sankar said that the country got freedom from imperialism after two -century rule by the British. Due to inefficiency of rulers, the imperialist forces were trying to gain hold on the country. They set eyes on economy and trade of the country. The multi national companies like Walmart have already entered the Indian markets.

The MNCs have ruined the countries like Mexico. These facts were disclosed by the UNO itself. We have to oppose the MNCs tooth and nail to avoid experiences faced by the Mexico and other nations, he said.

CPI district secretary Akkineni Vanaja said that the government went back on allowing 51 per cent FDI in retail sector following stiff resistance from the Left and other opposition parties. The government has allowed the MNCs to do business of Rs. 22.5 lakh crore. The retail sector was badly hit with the government's decision. The people would have to launch another freedom struggle to throw away the imperialist forces and FDI, she said.

CPI(ML) leader M. Bhargavasri, Lorry Owners Association leader Konery Venkata Ramesh, Jana Vignana Vedika secretary K. Venkateswarlu and others spoke.


Kalam favours FDI in retail sectorAugust 26, 2012

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