FDI in retail would add to widespread unemployment: Arvind Kejriwal

NEW DELHI: Justifying his decision to withdraw the approval given to FDI by the previous government in multi-brand retail in Delhi, Kejriwal today said small store owners would lose business if it is implemented and would add to widespread unemployment.

"The small Indian store owners will lose business if FDI in retail implemented. Tell me one nation where FDI in retail has led to increase in employment. A lot of people come to me asking for jobs. The businessmen and the industrialists of nation give jobs," Kejriwal told reporters here today.

Slamming the Congress-led Union Government on FDI, Kejriwal said, "They have made banana republic of the country."

In a major policy reversal, the Aam Aadmi Party Government had yesterday withdrawn the approval given by the previous Sheila Dikshit dispensation for FDI in multi-brand retail in Delhi, saying allowing global retail chains like Wal-Mart and Tesco to set up shops will result in large-scale job losses.

Kejriwal had said though his government reversed the decision on allowing FDI in Delhi, the AAP was not "opposed to FDI per se".

"It was part of our commitment in the manifesto (for Delhi polls). We are not against FDI per se. This is something that ought to be decided on sector-to-sector basis," he had said.

"There is a huge unemployment in Delhi and AAP government does not wish to increase this unemployment. Delhi is not prepared for FDI," he had said, justifying the decision.