The Welfare Party of India expresses its deep anxiety and anguish over the recommendation of the secretary level (CoS) meeting held at Delhi to grant permission to multi-brand firms for FDI in India’s retail sector. Permission has already been granted for 100% FDI in wholesale sector and 51% FDI in single brand retail sector. No doubt the recommendation which will be presented before the Cabinet will get easy approval as the Prime Minister Manmohan Singh is the true spirit and strength for all the economic liberalisation policy of the Central Government.
In a press statement on July 27, the party general secretary, Dr. S.Q.R. Ilyas feared that with the entry of multi-brand firms in retail sector, the fate and future of crores of retail traders and hawkers would be at heavy risk and gradually they would be thrown out of the field as has been proved in various countries where these firms were allowed to step in.
The statement reminded that the entry of multi-brand giants in the retail sector will ruin the rural agro sector also. Imported agricultural products sold at cheaper price will devastate the Indian farmers; later on the products will be available only at astonishing price. The ultimate burden will fall on the consumers who already bear the brunt of inflation and price rise.
Dr. Ilyas explained that the monopoly of corporates had never benefitted either the farm producers or the consumers. They had only a single agenda of exploitation. The statement cautioned that giving free hand to the corporates will bring back the old colonial rule. The conditions set by the Council of Secretaries are only eyewash and will be diluted in due course, as the corporates are all powerful.
The Welfare Party asked all political parties opposed to the corporate power play, civil movements, trade unions and traders’ associations to come forward, make a joint front and launch mass campaigns before it is too late.