The Hindu : National : Unite against FDI in retail trade: CPI(M)

Online edition of India's National Newspaper
Monday, Feb 19, 2007
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National

National

Unite against FDI in retail trade: CPI(M)

Special Correspondent

Corporates' entry must be monitored

NEW DELHI: Apprehensive that the entry of big corporate companies in retail trade would be at the peril of petty traders, the Communist Party of India (Marxist) Polit Bureau has called for strict regulations to monitor their entry into this sector. While urging all political parties to join hands against Foreign Direct Investment (FDI) in retail trade, the party has decided to prepare a note on regulating corporate entry into retail for submission to the Government.

Announcing this here on Sunday at the close of the two-day Polit Bureau meeting of the party, general secretary Prakash Karat said FDI in retail trade and corporate entry into this sector would displace petty shops and traders. Since every political party in Parliament had criticised opening up retail trade to FDI, the CPI (M) hoped to get all political parties to take a united stand to stop FDI in retail trade to protect the livelihood of millions of small shopkeepers and traders.

In its statement, the Polit Bureau noted with concern the manner in which the Government was allowing FDI in a piecemeal fashion sector-by-sector. "Further, in the name of wholesale and `cash and carry' operations, companies like Wal-Mart are tying up with Indian companies to enter the retail trade through the back door."

The Polit Bureau has also decided to picket all Central and State Government offices across the country on February 27 against price rise. Party workers will also court arrest, Mr. Karat said; reiterating the party's demand for curbing future trading in foodgrains and other essential commodities, revision of the tax structure for petroleum products, ensuring adequate procurement of foodgrains at prices fair to farmers, strengthening the public distribution system, and ensuring price control of essential drugs.

Land issues

On industrialisation and land issues in West Bengal, the Polit Bureau endorsed the stand taken by its Government ; both vis-a-vis the Tata car project in Singur and its decision to keep on hold the Special Economic Zone in Nandigram till amendments were made to the SEZ Act by the Centre. "There is no question of any land being acquired for the SEZ projects, as in Nandigram, against the wishes of the people."

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