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SAD says no to FDI in retail sector

Monday, 26 November 2012 - 6:27pm IST | Place: Amritsar | Agency: PTI
The Shiromani Akali Dal today said it would oppose Foreign Direct Investment (FDI) in the retail sector as it would affect the survival of crores of retailers dependent on their neighbourhood shops.

The Shiromani Akali Dal today said it would oppose Foreign Direct Investment (FDI) in the retail sector as it would affect the survival of crores of retailers dependent on their neighbourhood shops.

"Shiromani Akali Dal had supported FDI in wholesale as it felt that it would be beneficial to the retailers, farmers and traders removing the middlemen from the cycle. But in the case of FDI in retail, there was a question mark on the life and death of crores of retailers dependant on their neighbourhood shops," SAD leader and Punjab deputy chief minister Sukhbir Singh Badal said while inaugurating a Metro Cash and Carry store here.

Headquartered in Dusseldorf, Germany, METRO Cash and Carry is a sales division of METRO group, one of the largest international retailing companies.

Badal alleged that Congress-led UPA government was running away from vote in Parliament on the crucial issue of FDI in retail sector as it was fearing threat that even its allies would not support the government on the issue.


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