The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:
The decision of the Modi government to allow 100 per cent FDI in e-commerce retail is an outright surrender to the interests of big foreign e-commerce retail firms. This is clearly announced to appease foreign capital on the eve of PM Modi’s US visit. It is also a surrender to the pressures of the EU keeping in mind the ongoing Free Trade Agreement talks with EU and the Prime Minister’s visit to Brussels.
The BJP had been vocal against the FDI in retail trade when it was in the opposition. Now it has done a somersault. The allowing of FDI in e-commerce will facilitate the backdoor entry of FDI in retail. This will affect the livelihood of lakhs of small retailers in the country.
The CPI(M) demands that this harmful policy be immediately rescinded.