Retail FDI has never helped farmers: Jaitley

Posted on 8th Apr 2014 07:00 pm by admin

New Delhi, April 8 (IANS) Nowhere in the world have international retailers enriched farmers or producers, BJP leader Arun Jaitley said Tuesday, advocating the party manifesto's announcement that it will not allow foreign investment in retail.

"While the BJP will encourage FDI in certain sectors, it is presently opposed to opening out of multi-brand retail," Leader of Opposition in the Rajya Sabha said in a blog post.

"Nowhere in the world have international retailers enriched farmers or producers. The benefits of elimination of middlemen will go entirely to the multi-brand retailers," he said.

The BJP leader, who is contesting the Lok Sabha polls from Amritsar, added: "Multi-brand retail by major international groups will displace mass retail jobs."

"It will hurt our manufacturing establishments since organised international retail sources products internationally. India can ill-afford foreign owned stores selling Chinese goods."

The Bharatiya Janata Party Monday released its manifesto, where the party promised not to allow foreign direct investment in retail.

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