The West Bengal Chief Minister and Trinamul Congress supremo, Ms Mamata Banerjee, on Monday said that the relaxed foreign direct investment (FDI) norms in the retail sector will not be implemented in the State. According to her, relaxation of FDI rules will affect livelihood of nearly 5 crore people here.
“We will not allow 51 per cent FDI in retail in West Bengal. It will affect the livelihood of about five crore people in our State alone,” she told reporters at a programme in Howrah, about five km from Kolkata.
The Union Cabinet, on November 24, had approved 51 per cent FDI in multi-brand retail paving way for entry of global giants and hypermarket chains such as Walmart and Carrefour.
According to Ms Banerjee, small-scale traders will be pushed out of the market if nod for FDI in retail is given by the State Government. The farmers have a right to decide whom to sell their crops to, she said.
“Many small-scale traders purchase vegetables and other crops directly from farmers. With the introduction of FDI, they will turn jobless. We cannot risk the livelihoods of so many people,” she added.
Ms Banerjee's Trinamul Congress despite being one of the largest allies of the UPA-II at the Centre, has been vocal against the opening up of the retail sector.
Trade Bandh
Meanwhile, the Confederation of West Bengal Trade Associations (CWBTA) — an apex body of trade associations in the State — has called a 24-hour bandh on December 1 to protest the opening up of FDI in retail.
CWBTA covers more than five lakh small and medium traders of the State.