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.
Consequent to the harmful decision to allow 51 per cent FDI in multi-brand retail, the government has diluted even the limited norms set out for foreign retail investment. Under the pressure of the United States, the requirement of 30 per cent sourcing from domestic small and medium industries, the requirement for back up investment and the condition that FDI in retail be allowed in cities of over 10 lakh population have been eased.
Conduct a week-long agitation against price rise from February 3rd to 9th. During this week, there will be picketing of central government offices, protest demonstrations, dharnas and rallies. On 9th February, on the last day of the week, there will be a mass dharna which will be attended by thousands of people at New Delhi in which the main leaders of all the parties will participate.
The Left parties have consistently opposed the entry of foreign companies into retail trade. A wide spectrum of political parties, retail trade associations and public opinion is against such a move.The UPA government should desist from allowing FDI in multi-brand retail trade.