BMS opposes FDI in retail, threatens protest

New Delhi, Nov 11: The Bhartiya Mazdoor Sangh has strongly opposed the government's decision to allow Foreign Direct Investment (FDI) in retail and defence sectors, and wrote to Prime Minister Narendra Modi seeking the review of the decisions.

It said the government should talk to all stakeholders and discuss with them whether FDI has helped them or the country.

The BMS will wait for the government's decision to initiate discussion on the FDI and review it failing which the Sangh will protest by taking to the street.

The BMS, in separate letters to the PM and and Finance Minister Arun Jaitley, has also demanded a white paper on the inflow and outflow of the FDI in the country.

BMS General Secretary Virjesh Upadhyay said that allowing FDI in retail will "finish" the local retail sector leading to large-scale unemployment, affecting the poor.

He said the FDI that has come into the country so far has flowed out through outflow and is thus not helping the country. On allowing FDI in Defence sector, he said it was not good for the country.

PTI