FDI in Retail : Why UPA is Telling Lies

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THE whole last week was eventful with the government announcing hike in diesel price, reducing subsidy on gas as also allowing 51% FDI in retail, all this as the UPA II was totally cornered Coalgate and a knee jerk response to it. Today, the government notified FDI, a day when almost whole of opposition and some allies of UPA had announced a bandh.

THE government has been telling us that states can decide on their own if they want to allow FDI or not. This is totally misleading. India has bilateral agreement with 82 countries and as per rules of WTO, foreign trading companies can not be put to any disadvantage vis a vis domestic traders. A Kerela High Court judgement has already made it clear. Otherwise, as notified, there are only 56 cities with population of over one million, 37 of which in the states opposing FDI. MNCs are, therefore left with only 19 cities in which they can carry out their activities.

THE first signs of change will be seen soon. Companies selling breakfast items, chocolate and anti aging products are ready to jump first. Will they care for government guidelines regarding investment and raw materials?

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