Ummid Assistant

Jamia Millia launches courses on China, Afghanistan

IGNOU launches value education programme for teachers

Welcome Guest! You are here: Home National

Tamil Nadu not to allow FDI funded retail outlets

Sunday November 27, 2011 07:33:46 PM, IANS

Related Article

States can decide on foreign retail chains: Anand Sharma

Guidelines for the new policy of allowing 51 percent foreign direct investment (FDI) in multi-brand retail outlets  

Amid opposition, India declares retail trade open

Fact sheet on India's retail trade industry

FDI in retail will destroy livelihoods of 'crores', says CPI-M

Chennai: Announcing her government's decision not to allow retail outlets with FDI in her state, Tamil Nadu Chief Minister J. Jayalalithaa Sunday asked the central government to reverse its "ill advised" policy of allowing 51 percent FDI in multi-brand retail sector.

In a statement, Jayalalithaa said: "I demand that this ill advised move of the government should be reversed as it will not serve to bring down inflation or improve market efficiency."

According to her, the domestic manufacturing and services sectors will take a serious hit and the retail trade will be taken over by MNCs dominated big retail giants. This is not good for our country, she said.

"I am constrained to state that my government will not allow the multi brand global players as permitted under the new policy to set up their hyper markets in Tamil Nadu," Jayalalithaa declared.

Terming the centre's decision of allowing 51 percent FDI in multi-brand retailing and 100 percent in single brand retailing as a "rude shock to the millions of traditional retail vendors", Jayalalithaa said New Delhi's decision to announce a major policy decision outside parliament was both "unprecedented" and showed "the overweening arrogance of the government".

"But, by making this sudden announcement ignoring the sentiments of the people, the Central Government has stirred the proverbial Hornet's Nest," she said.

Citing reports that put 90 percent of India's total retail business is in the unorganized sector, Jayalalithaa said the new FDI policy would render 40 million to lose their livelihood. As most of them are not well educated they would remain unemployed.

 






 

 

 

Bookmark and Share

Home | Top of the Page

Comments

Note: By posting your comments here you agree to the terms and conditions of www.ummid.com

Comments powered by DISQUS

i

i

i

 

 

 

Top Stories

States can decide on foreign retail chains: Anand Sharma

Guidelines for the new policy of allowing 51 percent foreign direct investment (FDI) in multi-brand retail outlets  

Amid opposition, India declares retail trade open

Fact sheet on India's retail trade industry

FDI in retail will destroy livelihoods of 'crores', says CPI-M

 

  Most Read

Seize Srinagar Haj travel operator's property: Probe team

A team probing the duping of over 500 people by a local Haj tour operator Saturday recommended confiscation of his property to compensate the duped pilgrims, an official statement said here. 

India remembers victims, martyrs on 26/11 third anniversary

India paid homage to the victims and martyrs of the 26/11 terror attacks on its third anniversary here Saturday. Maharashtra Governor K. Sankaranarayanan laid a wreath at the 26/11 memorial at 

Protesting widows, kin of 26/11 victims detained

 

  News Pick

Vodafone, HDFC Bank launch mobile banking in Rajasthan

Leading telecom service provider Vodafone India and private lender HDFC Bank Saturday launched "m-paisa", a mobile banking service in Rajasthan to enable millions of unbanked Indians perform basic banking transactions 

Chhattisgarh officer owns Rs.6 crore illegal property

Searches at the houses of a Chhattisgarh government official and of his bank locker have revealed that he has illegally amassed property to the tune of over Rs.6 crore, sources in the Anti-Corruption 

Jamia Millia: Little known hub of pioneering scientific research

Mohammad Dilshad Manzar is a typical young man from the small town of Samastipur in Bihar but with big dreams. He led a life of deprivation due 

 

Picture of the Day

The Prime Minister, Dr. Manmohan Singh and the Emeritus Senior Minister, Mr. Goh Chok Tong, unveiled the bust and the Marker of Pt. Jawaharlal Nehru, at Asian Civilizations Museum, in Singapore on November 20, 2011.

(Photo: M. Asokan )

 

 
 
 
 
 

RSS  |  Contact us

 

| Quick links

News

 

Subscribe to

Ummid Assistant

 

National

Religion

RSS

Scholarships

About us

International

Culture

Twitter

Government Schemes

Feedback

Regional

History

Facebook

Education

Register

Politics

Opinion

Newsletter

Contact us

Business

Career

     

Education

     

 

 

Ummid.com: Disclaimer | Terms of Use | Advertise with us | Link Exchange

Ummid.com is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.