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CPI-M blasts 100 percent FDI in e-commerce retail
New Delhi, March 30: The CPI-M on Wednesday dubbed the government move to allow 100 percent FDI in e-commerce retail "an outright surrender to the big foreign e-commerce retail firms" and demanded its scrapping.
"This is clearly announced to appease foreign capital on the eve of (Prime Minister Narendra) Modi's US visit," the Communist Party of India-Marxist said in a statement.
"It is also a surrender to the pressures of the EU (European Union) keeping in mind the ongoing Free Trade Agreement talks with EU and the prime minister's visit to Brussels."
The
CPI-M
said
the
Bharatiya
Janata
Party
(BJP)
had
been
vocal
against
the
FDI
in
retail
trade
when
it
was
in
the
opposition.
"Now it has done a somersault. Allowing of FDI in e-commerce will facilitate the backdoor entry of FDI in retail. This will affect the livelihood of lakhs of small retailers in the country."The CPI-M demanded that "this harmful policy be immediately rescinded".
IANS
