Staff Reporter

`It may render up to 25 lakh people unemployed in Delhi itself'

`This step would make the country economically subservient to foreigners'The party unit has also criticised the decision to abolish the Pharmaceuticals Research and Development Support Fund

NEW DELHI: Apprehensive that direct foreign investment in the retail trade sector would destroy the country's retail sector, the Delhi Bharatiya Janata Party said on Wednesday that the move by the United Progressive Alliance Government mighty render up to 25 lakh people unemployed in the Capital itself.

In a statement, Delhi BJP president Harsh Vardhan called upon the traders and those connected with the industries to oppose the decision of the Government to allow FDI in retail because this step would make the country economically subservient to foreigners.

Lamenting that the opposition to this Government move has been meek and artificial, the BJP leader said in the past too when the Congress-led regime had allowed FDI in the energy, insurance, banking and aviation those who should have opposed the move failed to do so.

Stating that the Centre has also allowed 100 per cent FDI in energy, rubber, coffee, diamond, coal, airport, petroleum, natural gas, LNG pipeline and lignite sectors, the Delhi BJP president said this is a departure from the earlier practice of allowing FDI in some limited sectors only.

``Earlier the multi-national companies were trading their products mainly through franchises in India and as such Indians were getting employment by working at such outlets. But now by ending this system, the Centre has allowed opening retail sale centre to foreign companies through their own employees. Due to this the people employed in the trade sector may lose their jobs and this may lead to large scale unemployment and also ruin indigenous industry and trade,'' he said.

The party unit has also criticised the decision to abolish the Pharmaceuticals Research and Development Support Fund stating that with this the claim of India in medicine and drugs research would be finished and foreign companies would be able to fully capture this sector which would make medicines expensive.

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