Disrupting Parliament is sacrilegious: Industry leaders

New Delhi: Prominent industry leaders have hit out at opponents of Foreign Direct Investment or FDI in retail, stating they are resorting to "false drama" and that the act of perennial disruption of Parliament is "sacrilegious".

In a statement, HDFC Chairman Deepak Parekh and Rajya Sabha MP and former Unilever chief Ashok Ganguly said, "A slowing economy seems to pale in comparison to the larger crisis at hand - that of a Parliament that is completely unable to function in the way these sacred institutions were set up to be. A democracy encourages openness and permits and dissent, but perennial disarray and disruption is sacrilegious".

Reacting to the dissenting voices being raised by the Opposition and the allies, the two corporate leaders said, "Opposing investment in modern retail for the sake of it is only defending vested interests to the detriment of the vast majority. The farmers, consumers and the common people must raise their voice against this false drama of apprehension against investment and modernising trade in organised retailing."

Mr Parekh and Mr Ganguly also called for "the saner sections" of corporate India to come out and support progressive measures and reforms. FICCI, CII and Assocham, however, did not react.

West Bengal Chief Minister Mamata Banerjee took the nation by surprise on Saturday when, quoting Finance Minister Pranab Mukherjee, she made an announcement that the FDI decision has been suspended. The government sources, however, said that no final decision has been taken yet and that it will continue talks with the Opposition as well as the allies. (Read)

Mr Parekh and Mr Ganguly said as the nation "interminably and unproductively quarrels about 'India's tryst with destiny', the more important question is how should some semblance of order be restored in Parliament?" Parliament has remained paralysed since November 22.

During the course of the year, a section of the industry together with common man raised its voice over "misgivings" of the government. It was expected to stem the slowdown, increase investment and bring in new reforms, they said.

"But, when the government began to act, what have we, but chaos and adjournments (in Parliament) over a decision to allow FDI in retail," the two corporate leaders said.

There are 32 bills pending in Parliament, many of which are of greater consequence than FDI in retail, they said.

"The protests on FDI in retail are misconceived and unfortunate... what is intriguing and bewildering is that the false alarm of FDI is continuing to be used after so many years, as a bogey in modern times against foreigners and foreign investment. It is completely delude to argue that kirana shops will be wiped out with the onslaught of FDI in retail," their statement said.

Supporting the government, they said the decision on FDI in retail is not sudden as the idea has been toyed with for over 14 years and discussions were held with stakeholders.

Modernisation of retail trade is an essential part of India's growth story, they said.

"India always prided itself on its vibrant democracy. It was large and noisy, but it worked. Today there is concern over India's overall economic slowdown. From ambitions of double digit GDP growth rates, the slide has been swift".

The country's growth rate slipped to 6.9 per cent in the second quarter this fiscal, the slowest in nine quarters.

Mr Parekh was one among the prominent citizens along with Wipro chief Azim Premji who had recently written to Prime Minister Manmohan Singh expressing concern about the policy paralysis in the government following several scams like 2G and Commonwealth Games scam.

Last week, Ratan Tata had said that political differences should not be allowed to block country's progress.