Jayalalithaa opposes FDI in retail in Tamil Nadu

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Chennai, Nov 27: Opposing the government policy of allowing 51 percent FDI in multi-brand retail sector in India Tamil Nadu Chief Minister J Jayalalithaa on Sunday (today) said that she would not allow multi-brand global palyer to set up hyper markets in Tamil Nadu.

Jayalalithaa further said that government should reverse its "ill advised" move as it will monopolise the market, exploit farmers and consumers.

"I am constrained to state that my government will not allow the multi brand global players as permitted under the new policy to set up their hyper markets in Tamil Nadu," Jayalalithaa declared.

The government new FDI retail policy to allow 51% foreign direct investment (FDI) in multi-brand retail segment will permit world's top retail giant like Walmart, Carrefour and Tesco to set up market in the country. Earlier, such retailers were not allowed to coduct retail business in India.

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