FDI in retail will spell doom for nation: Bharatiya Janata Yuva Morcha president Anurag Thakur

CHANDIGARH: Welcoming TMC's decision to walk out of the UPA government, Bharatiya Janata Yuva Morcha president Anurag Thakur today said the entry of FDI in retail would spell doom for India.

Thakur, who led BJYM activists in lodging a complaint in a police station here against Prime Minister Manmohan Singh on the coal block issue, said foreign companies would eat away a major chunk of earnings of four crore small traders in the country.

Citing the example of Chile, Thakur said "Walmart has eaten away 34 per cent of the market there after its entry, rendering thousands of small shopkeepers jobless."

He said if such companies came to India, they would spell doom for the country.