Kolkata, Nov 28 (ANI): Opposing the Central Government's decision to approve 51 percent Foreign Direct Investment (FDI) in multi-brand retail, West Bengal Chief Minister Mamata Banerjee has warned that the Trinamool Congress will protest against it.
"I am going to talk about FDI. Applied 51 per cent traders, small and big shops has been done, it hasn't been consulted with us. We will protest that too. I don't want that the pension money goes to stock market. I don't want in the name foreign funds retailer shops are ruined," Banerjee told here.
"There are many small and big shops which are fed by the shops. If all these things stop where will they go, I would like to see colourful things but these things can be done after arranging food in your home," she added.
She further said: "Some people might support it, but I do not support it. You see America is America, Bangladesh is Bangladesh, Pakistan is Pakistan and India is India. One has to see what one's capacity is."
The government last Thursday approved 51 percent foreign direct investment in the supermarket sector, paving the entry of firms such as Wal-Mart and Carrefour into one of the world's largest untapped markets.
The new policy, seen as one of the most important government economic reforms in years, may commit supermarkets to strict local sourcing requirements and minimum investment levels aimed at protecting jobs.
The requirements are due to fears of potential job losses among small traders that could heighten popular anger at the ruling Congress party ahead of key state polls next year that will set the stage for the 2014 general election. (ANI)
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Read More: Kolkata | Congress | Mamata Banerjee
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