Parliamentary Panel seeks ban on FDI in retail

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Panel recommended curbs on malls
New Delhi, Jun 9: A parliamentary panel on Monday, Jun 8 urged the government to ban foreign firms and big domestic corporates from retailing groceries, fruits and vegetables, and to stop issuing licenses for wholesale operations.

The committee which was chaired by Bharatiya Janata Party (BJP) leader Murli Manohar Joshi, recommended that curbs on malls and a ban on multinationals in the cash-and-carry business citing that it was a 'mere camouflage' for entering retail.

The panel also saw Trinamool Congress' (TC) Dinesh Trivedi who said that the recommendation were unanimous and cut across party line. TC in its manifesto had made it clear that it would take strong stance against organised retail. Apart from this, TC seems to be owning the stance of its rival, the Left.

Meanwhile, CPM's Nilotpal Basu said “The report reflects our own demands for regulation of the retail sector and a ban on FDI in multi-brand retail. It should be taken into account by the government while formulating the FDI policy."

The panel has also strongly called for setting up of a regulator and bringing an act to reserve some areas for small and medium players. The panel's report may actually ensure that the government does not go ahead with its earlier plans to liberalise the sector.

OneIndia News

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