FDI in retail will increase unemployment, says Kejriwal

Justifying his decision to withdraw the approval given to FDI by the previous government in multibrand retail in Delhi, Delhi chief minister Arvind Kejriwal said small store owners would lose business if it is implemented and would add to widespread unemployment.

“The small Indian store owners will lose business if FDI in retail implemented. Tell me one nation where FDI in retail has led to increase in employment. A lot of people come to me asking for jobs. The businessmen and the industrialists of nation give jobs,” Kejriwal told reporters.

Slamming the Congress-led Union governmenton FDI, Kejriwal said, “They have made banana republic of the country.”

In a major policy reversal, the Aam Aadmi Partygovernment in Delhi had, on Monday, withdrawn the approval given by the previous Sheila Dikshit dispensation for FDI in multibrand retail in Delhi, saying allowing global retail chains like Wal-Mart and Tesco to set up shops will result in large-scale job losses.

Kejriwal had said though his government reversed the decision on allowing FDI in Delhi, the AAP was not “opposed to FDI per se”.

“It was part of our commitment in the manifesto (for Delhi polls). We are not against FDI per se. This is something that ought to be decided on sector-to-sector basis,” he had said.

“There is a huge unemployment in Delhi and AAP government does not wish to increase this unemployment. Delhi is not prepared for FDI,” he had said, justifying the decision.—IANS