Asserting that the Parliamentary Standing Committee on Commerce had strongly opposed allowing foreign investment in multi-brand retail,senior BJP leader Shanta Kumar,who heads the committee,urged the UPA government to drop the move as,according to him,it would adversely affect the future of six crore people earning their livelihood from the retail sector. Stating that the move was completely illogical and ill-founded,the veteran BJP leader described the governments decision as totally against Indias interests. Twice we (the Parliamentary committee) was asked by the government to give its views on opening up multi-brand retail sector to foreign investors and the committee conveyed its disagreement. Even the governments logic to the committee was frivolous. How can the government presume that neither the public nor private sector can do this job and thus the field was being opened to foreign investors,Shanta said. He further claimed that there are a number of areas in which the public sector has no role and said that it doesnt mean that they should be opened to foreign companies. The BJP Rajya Sabha member said almost 70 per cent of the goods in the retail market are food and agriculture products. Once the sector is opened to FDI it will have a direct bearing on the farm sector,which is already struggling,he added. Then there is also a conspiracy against Indian pharma companies,which are being taken over by the foreign ones. Ranbaxy and Dabur have already sold out and foreign buyers have compelled the Indian promoters to sign affidavits stating that they wont enter the pharmaceutical business,Shanta said.
