[Marxistindia] Oppose FDI LIberalisation

[news from the cpi(m)]

January 10, 2018

Press Statement

 

The Polit Bureau of the Communist Party of India (Marxist) has issued the
following statement:

 

Oppose FDI Liberalisation

 

The Polit Bureau of the CPI(M) strongly opposes the decision of the Union
Cabinet to allow 100 per cent Foreign Direct Investment through the
automatic route in single brand retail trade.  Till now, FDI upto 49 per
cent was permitted under the automatic route.  This step to liberalise FDI
in retail trade will have harmful consequences for domestic retail traders
and shopkeepers.  

 

This measure indicates that the Modi government is moving towards allowing
FDI in multi-brand retail trade.  The BJP, while in opposition, was opposed
to the entry of foreign companies into retail trade.  Now being in
government, it has hypocritically reversed its position.

 

The Polit Bureau of the CPI(M) also strongly opposes the decision to allow
foreign airlines to invest upto 49 per cent in Air India.  Having taken the
decision to privatise Air India, the Modi government is now moving towards
handing over Air India to a foreign airline.  The government should heed the
recommendation of the Parliamentary Standing Committee on Transport, Tourism
and Culture which has asked the government to review its decision on
privatization of Air India and provide five years to revive the airline with
its debt written off.  

 

 

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