Move to allow FDI in retail to impact hard : BJP

PATNA: Vowing to oppose the move to allow Foreign Direct Investment (FDI) in multi-brand retail and ease norms in single-brand retail, BJP said such a move would have 'direct impact on retail sector'.

"The UPA government's move to allow FDI in multi-brand retail and easing norms in single brand retail will have direct impact on retail in India... BJP will oppose it tooth and nail," party's national spokesperson Ravishankar Prasad told reporters here.

Prasad said the decision was not in the "interest of country, the trader or the farmer."

"We are happy that the NDA-ruled states have opposed it and there are even opposition from the allies in the UPA government," he said.

"The retail sector in India is the largest employment sector...The FDI will deal a blow to the domestic manufacturing sector," Prasad said adding BJP would strongly oppose it in parliament.

He said the vegetable, fruit vendors, grocery shops, cart pullers and other vendors on streets would be hard hit by this policy.

"The government should leave this policy. What is the pressure on it? Why it is bringing problems of Europe and US into the country?," Prasad wondered.

The foreign companies had an eye on domestic retail trade, the biggest employer after agriculture and a large number of jobs were being created in the unorganised and organised sectors, he said.

"The government decision will, thereby, lead to massive unemployment," Prasad said.