Venkaiah criticises FDI in retail sector

Former national president of Bharatiya Janata Party M Venkaiah Naidu on Saturday criticised the Central Government for allowing 51 per cent FDI in the retail sector.

Talking to reporters, Venkaiah Naidu said that the decision would affect more than two crore families across the country. He said it would also affect the food security situation in the country. He apprehended that the entry of multi-nationals in the retail sector would adversely affect the lakhs of kirana shops throughout the country and would increase unemployment.

The Bjp leader said that the entry of mega players would affect the small businessman in the retail segment. He said unlike the western countries where huge tracts of lands could be allotted to the retail players, India is having scarcity of land. Therefore, the new policy would badly affect the farmers. He said that the big foreign players would spoil the rhythm of conventional retail business in the country.

Venkaiah Naidu said that his party would launch a massive agitation against the new policy. He also asked the Centre to allow debate on the new FDI policy in the on-going winter session of the Parliament.

Bjp state unit president G Kishan Reddy and former MLA N Indrasena Reddy were also present.