Mamata insists on retail FDI rethink

Hooghly (West Bengal), Dec 3 (ANI): West Bengal Chief Minister and Trinamool Congress chief Mamata Banerjee has said that she has asked Prime Minister Manmohan Singh to reconsider the Union Cabinet's decision to allow Foreign Direct Investment (FDI) in the retail sector.

Talking to reporters here, Mamta Banerjee said that she had a telephonic discussion with the Prime Minister and she told him she could not support the government's policy of bringing 51 per cent FDI in multi-brand retail.

"I explained my and our party's stand (on the FDI in retail sector). I am grateful to him (Manmohan Singh) since he listened when I insisted that this policy must be reconsidered. In our country the link between the farm sector and the local market dates back to centuries and it is strong, constituting 50 percent of our overall economy. So this can't be disturbed," she said

"I explained to the Prime Minister that this is a sensitive issue as such I have taken the pro-public stance despite being a coalition partner," she added.

The deadlock in Parliament over FDI in retail and several other issues continued for the ninth day today with the opposition and some members of UPA partner Trinamool Congress creating uproar in both Houses to press for their demands.

Both Lok Sabha and Rajya Sabha were today adjourned till December 7.he Winter Session, which began on November 22, has virtually done no business, due to the treasury-opposition standoff on several issues, including the price rise, corruption, the demand for a separate state of Telangana and the safety of the Mullaperiyar Dam.

The Union Cabinet had earlier on November 24 approved 51 percent FDI in multi- brand retail.

As per this move, many global retailers like Wal-Mart, Carrefour and Tesco can open outlets in India.

But 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. (ANI)