CM strongly opposes FDI in retail!

September 14, 2012 Author: admin

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Shri Narendra Modi opposed FDI in multi brand retail

FDI in multi brand retail will harm small shopkeepers, adversely affect domestic manufacturing sector and create joblessness: Shri Modi

Shri Modi has also severely criticized anti-people diesel hike and on the day UPA made this regressive announcement, Shri Modi announced relief measures for farmers


The decision to allow Foreign Direct Investment (FDI) in multi brand retail sector by the Congress-led UPA has been strongly opposed by Shri Narendra Modi. The Chief Minister has termed this move as anti-people.

Shri Modi said that allowing FDI in multi brand retail would mean immense harm to small shopkeepers, hit the domestic manufacturing sector and create joblessness. The Chief Minister added that this would also mean cheap good produced outside being dumped into our nation.

Since yesterday, Shri Modi has strongly opposed the diesel price hike and the decision to rationalize LPG cylinders per household. Infact, on the same day the UPA announced these regressive decisions, Shri Modi announced 100% relief on loans and 50% relief on electricity bills for farmers. This decision by Shri Modi has been hailed all over.

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This example can be extended with FDI where large shops are opening next to you will huge cash and buying power with technical and financial expertise. You will see how in America, UK and France all corner shops, grocery shops and off-licence shops are closed 10 years ago. Because this companies will sell goods at very cheap rate and some times even in loss to attract more customer for some time. Once all competition shops are closed a=or gone bust they will increase their profit margin dramatically and start exploiting monopoly of being one. They have even ability and financial strength that they are buying other competitors big business to reduce competition and increase monopoly. If you see in UK and some American Banks area merged and only 4-5 banks are remain. Other banks are owned by same banks and they are absolutely disastrous as they are not offering any good rate on load or on savings. They charge customer extortion amount of fees for almost nothing. This is also similar in Mobile network. More and more mobile networks has been bought and merged using one or two companies and they are hiking price every so often even though their reception in areas are poor and very poor customer service. This companies include Vodafone which hasn't paid £2 billion TAX in India. Think how much we can do and how much it can affect local people if this money has been paid to country in terms of TAX.