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.

Other news

UP Budget 2025: Specialist doctors will be available, testing facilities will improve, health services will get wings

Health facilities in Uttar Pradesh will get wings. A provision of Rs 50550.42 crore has been made

UP News: CM Yogi gave a gift of Rs 1200 to school students, 1. 91 crores will get the benefit

Chief Minister Yogi Adityanath on Monday pressed the button and transferred Rs 1200 for shoe stoc

Tripura Government Employees to get more Pay

Agartala, March 31 (IANS) To pacify its aggrieved employees seeking central government pay scal

GST Council meeting: Exemption from registration for small traders selling goods online on e-commerce platforms

The GST Council on Wednesday gave a major relief to small traders selling goods online through e-

Team India: The wait for the champions to return home is over, the storm in Barbados has stopped; the stars will leave for India this evening

The Indian team defeated South Africa by 7 runs in the final of the T20 World Cup 2024 and achiev

Himachal jail reforms: Technology helps prisons open up

Shimla, Jan 4 (IANS) Prisons in Himachal Pradesh are no bar for the inmates wanting to keep in

Corona Update: 17,699 new cases were found on the last day, 30 died; Delhi at number 5 in the country in terms of new infected

In the last 24 hours, 18,354 new cases of corona have been found in the country, while 30 people

Turkiye Earthquake: Earthquake tremors again in Turkey, a magnitude 5.5 on the Richter scale

Strong earthquake tremors were felt once again in Turkey on Saturday. Let us tell you that an ear

Haryana Budget 2025: CM Saini will present a budget of 2 lakh crores; 'Pitara' will open for farmers, youth, and women power

The entire bureaucracy is busy preparing the budget of Haryana for the year 2025-26. While Chief

Shahid Afridi came out in support of Yasin Malik, and said innocent; Amit Mishra gave a befitting reply

Shahid Afridi On Yasin Malik: Former captain of Pakistan cricket team Shahid Afridi has come out