The Delhi BJP held a demonstration on Parliament Street on Monday to protest against the Union Cabinet's decision to allow 51 per cent foreign direct investment in multi-brand retail. Party leaders said the move was fraught with danger as it would lead to massive unemployment and destruct the existing business and supply chains.
Leading the protest, Delhi BJP president Vijender Gupta said the BJP will never allow foreign companies to open multi brand retail stores. He expressed apprehension that the arrival of foreign companies in the country in this fashion may lead to their “indirect rule in India”.
“At present 95 per cent of retail trade in India is under unorganised sector. About 15 crore people are maintaining their families with it in every lane and block of the country. If the foreign companies are allowed in then crores would be rendered unemployed and ultimately ruined,” he warned.
Holding the view that allowing retail trade to foreign companies has adversely impacted the economies of China, Malaysia and Thailand, Mr. Gupta said FDI in retail trade will also ruin the farmers because the foreign companies will take their land on lease and force them to grow crops according to their choice.
The protesters, who raised slogans against the Centre and grant of permission to foreign companies, were also addressed by Rajya Sabha MP Chandan Mitra who charged that the Government had taken this decision under pressure of foreign governments and companies. There is also the possibility of heavy corruption in the process of this decision, he said, adding that there was no unanimity of view between the Government and its allies.