FDI row: Don't jump, check all pros and cons, says PDP

JAMMU: Indian economy has its own character and before taking any decision on the FDI issue, the government should look into all pros and cons, Opposition People's Democratic Party (PDP) in Jammu and Kashmir on Saturday said.

"India must develop like Europe and America but we need to pay attention to the ground realities. Poors, who are dependent on daily wages, shouldn't lose their means of livelihood by this decision. We need to pay attention to that also," said the former chief minister and PDP patron Mufti Mohammad Sayeed.

India has its own character as far as economy is concerned, so instead of rushing for FDI in retail market, government should consider all such aspects in mind, Mufti said.

"On the one hand, we have developed metropolitan cities while on the other there are many backward areas where people are lacking even basic amenities," he said.

Instead of making it a prestige issue, the government should rather try to evolve consensus by involving all political parties into the dialogue process on this important matter, the PDP patron said while addressing a meeting of senior party workers in Jammu city here.

He asked the government to look into all pros and cons before taking any decision on FDI. It was result of the huge gap between rich and poor of the country that farmers in some parts of the country are forced to commit suicide, Mufti said.

"Retail market, which provides maximum employment after agriculture, should not to be opened to big investors as the local traders will not be able to stand the competition," Mufti said.