FDI debate: Oppn warns SP, BSP in Lok Sabha

He said claims that FDI would result in an "earthquake" were unfounded and urged opposition against creating a sense of fear among people.

The Union Minister said today malls were loaded with foreign goods and both Indian and imported commodities were running the markets.

Attacking Shiv Sena, NCP's political rival in Maharashtra, Patel said malls selling foreign goods were being constructed by "your leaders," leading to a war of words between members of the two parties.

Terming economy as a two-way traffic system, he said while there are protests over inviting foreign investment in the country, nobody was objecting to Indian companies acquiring entities in other countries.

He claimed that due to presence of foreign chains like McDonald and KFC, Indian chains like Bikanerwala and Haldiram have improved their retail infrastructure.

Bhratruhari Mahtab (BJD) said his party had opposed the move in 2004, in last December and even today. "It will not help our agriculture and we have apprehensions that it will give rise to social unrest," he said.

He rejected government's argument that FDI in retail would create jobs and bring in additional resources.

Strongly opposing FDI in multi-brand retail, senior CPI leader Gurudas Dasgupta today said there is pressure from multi-nationals and the Prime Minister is even ready to sacrifice the government to implement the proposal.

Dasgupta said that allowing FDI in multi-brand retail would result in a scenario of "giants (MNCs) versus pygmies (domestic retailers)" and there cannot be growth.

He said the country's economic situation is "very grim" but Parliament is kept in the dark by the government with regard to its strategy to tackle the crisis.

Dasgupta questioned the government's view that FDI in multi-brand retail would help tide over the economic crisis.

He also sought to demolish government's argument that FDI in multi-brand retail would eliminate middlemen.

... contd.

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