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The CPI(M) has opposed the Centre’s decision to allow 100 per cent FDI through the automatic route in single brand retail trade. The party said the step will have harmful consequences for domestic retail traders and shopkeepers.
The party’s Politburo said in a statement the move also indicates that the Narendra Modi government is moving towards allowing FDI in multi-brand retail trade. “The BJP, while in Opposition, was opposed to the entry of foreign companies into retail trade. Now, being in the government, it has hypocritically reversed its position,” it said.
The party also opposed the decision to allow foreign airlines to invest up to 49 per cent in Air India. “Having taken the decision to privatise Air India, the Modi government is now moving towards handing over Air India to a foreign airline. The government should heed the recommendation of the Parliamentary Standing Committee on Transport, Tourism and Culture, which has asked the government to review its decision on privatisation of Air India and provide five years to revive the airline with its debt written off,” the CPI(M) statement said.
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