Govt not to allow entry of MNC into retail business

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Kolkata, Dec 19 (UNI) The West Bengal government would not allow entry of multinational companies into the retail business in the state, Housing and Public Health Engineering Minister Gautam Deb said today.

The Minister informed the Assembly that along with the bar on MNC strong restrictions would also be imposed on big domestic investors to make the retail business more transparent and accountable.

'' The state government is not in favour of FDI in retail business which stands second after agariculture in West Bengal and the domestic players will also have to face serious restrictions before their entry into it,'' Mr Deb observed.

Referring to the setting up of business malls in different parts of the state, he said such malls should be area specific taking into consideration population and other factors.

Besides the private sectors' participation in retail business, he said, the government would also adopt a number of measures like approval of bank loans to help the retailers carry on their business.

Earlier, Opposition leader Partha Chatterjee observed that restrictions on domestic capitals would not help in any way advancement of retail business and demanded that a ''total ban'' should also be imposed on big investors.

'' As the employment opportunity in the state is decreasing day by day, be it in industry or elsewhere, a large number of people is going for retail business and hence the government should take proper measures to protect it,'' Mr Chatterjee maintained.

He also informed that at present West Bengal has 11,33,663 retail shops across the state.

UNI

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