Foreign retail giants no good for farmers and consumers: JD(U)

JD(U) on Thursday lashed out at the UPA government for allowing FDI in retail and said that neither farmers nor consumers stood to benefit from the policy decision.

"The foreign retail companies like the Walmart are known to sell goods at under priced rates for sometime to eliminate rivals from the market before jacking up price," JD(U) spokesman Shivanand Tiwari told reporters here.

"The US retailer has also been known to bribe government officials in several countries to eliminate its business rivals for monopolising the market," he said.

There had been strong protest against this retail giant in New York in recent past against its monopolistic designs, Tiwari said.

"If the multi-national retail giants are so farmers-friendly then why does the US and other western countries provide subsidy to their farmers," he questioned.

Reacting to RJD chief Lalu Prasad's support to FDI in retail, he alleged it was an "opportunistic step" to get a berth in the union government.

"The UPA government should, however, guard against taking Prasad back in its fold if it does not want to slide to its graveyard quickly as it is already reeling under serious charges of corruption and mis-governance," he said.