The Delhi Assembly on Wednesday passed a resolution to oppose the Centre’s decision to allow 100% foreign direct investment (FDI) in retail, saying the move will lead to “economic slavery”.
After Aam Aadmi Party (AAP) MLAs raised concerns about the Centre’s move to allow full FDI in single brand retail, the Assembly passed the resolution moved by Malviya Nagar MLA Somnath Bharti. The BJP government at the Centre has taken many U-turns that have proved to be “detrimental to the interest of ordinary people of India”, the resolution said.
Opposing the Union Cabinet’s decision on January 10, the resolution said 100% FDI in retail will “lead to breaking the back of small and medium traders and ultimately to economic slavery of the country”.
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Earlier during a discussion on FDI, AAP MLAs hit out against the BJP for earlier opposing the concept, but now implementing it. Starting off the debate, Moti Nagar MLA Shiv Charan Goel said there were about four crore small traders who will be hit by the influx of foreign investment in retail.
Referring to the erstwhile Congress government allowing up to 51% FDI in multi-brand retail, Labour Minister Gopal Rai said both the Congress and the BJP had similar policies. “[Former Prime Minister] Manmohan Singh sold the country 50%, [Prime Minister Narendra] Modi is intent on selling it 100%. Their agenda is the same. This is being done for political gain. The country is going towards financial slavery,” he said.
PWD and Health Minister Satyendar Jain added that the BJP was “trying to ruin” the people who had supported them — traders.
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‘Competitive market’
For their part, the BJP said the move will not impact small traders. Leader of Opposition Vijender Gupta said the Centre’s decision will lead to more employment and “opportunities”.
“This will lead to a competitive market. Single brand retail trading has led to the economy flourishing and greater opportunities wherever it has been tried,” he said.