New Delhi/Chennai:
DMK chief M Karunanidhi, also a senior member of the UPA with 16 Lok Sabha MPs, today asked the government to reverse its decision on 51 per cent Foreign Direct Investment (FDI) in retail. The government is also facing opposition from within with the Congress party's branch in Kerala expressing its dissent.
Read the full statement below:It is dangerous to allow FDI in retail trade as it affects lot of small traders as well as middle class consumers.
It will also be a cause for economic decline of our country. The DMK has sounded a note of warning in this regard in the parliament. Therefore the Centre's insistence that the state should go by this decision of the Centre cannot be justified.
The DMK has already opposed FDI in retail trade even when the idea was originally mooted.
Compared to foreign countries India will suffer very much if FDI in foreign trade is allowed, with our small traders and poor consumers loosing their lively hood. Through the FDI in retail trade with India will have to face a tsunami like situation which will badly affect the economy. Therefore great caution has to be exercised.
I would not say as tn cm has said that the central government has adopted an arrogant approach without consulting the state. The announcement of the central government cannot be compared with Jayalalithaa's announcement of steep increase in the price of milk and bus fare without appreciating the sentiments of the public and without consulting anyone.
The statement of Narayanaswamy, union minister that the Centre will not compel the states to follow the decision of the central government in regard to FDI in retail trade has come as a release.
Without the state's insistence in FDI retail trade the tendency might spread to other states like a fire. Therefore the central govt should neither compel the states nor even suggest to implement the FDI in retail trade.
I honestly appeal to the central govt to withdraw the decision in this regard to retail trade accepting the views of DMK and other political parties and as per the unanimous demand of the small traders.