Left urges people to attend Delhi rally against FDI

All right thinking Indians should fight for the scrapping of the decision to allow 51% FDI in retail trade. The Communist parties have been consistently opposing is the governments decision to open the retail sector to multinational retail giants like Walmart. All of us will have to cooperate with the Communist parties in the struggle against FDI in retail trade irrespective of party affiliations. India is only country in the world which thinks that the foreigner is better for us than a local. For a country that has experienced colonial rule, this is bizarre. No doubt, FDI in retail trade will eventually lead to economic colonialism. Therefore, we have to fight to emancipate our country form falling into colonial control under the multinational corporations of America and the Western countries. Indeed our fight against FDI in retail is akin to second freedom struggle. All of us should be prepared to sacrifice to attain the goal of scrapping the notification on FDI. The government’s propaganda that FDI in multi-brand retail will bring benefit to farmers and consumers is   nothing but deceptive misinformation, which is not supported by facts. The argument that FDI in retail trade will lead to generation of employment opportunities is fallacious and not supported by historical evidences. On the contrary crores of people who earn their livelihood from the millions of existing retail outlets may be put out of business by the retail biggies. Most ridiculous contention of the government is that it be possible to bring down inflation by allowing FDI in retail trade.  There is scarcely any evidence to show that foreign investment, especially FDI, has acted as an enabling factor for controlling inflationary pressure anywhere in the world. On the contrary, there are ample proofs of foreign investment causing inflationary spiraling of prices in the host countries. The government has not explained how and in   what manner FDI in retail trade will lead to fall in prices; and how long the fall in prices, if any, will be sustained. Is there any guarantee that prices will be stabilised and thereby the real income of the people will increase on a long-term basis? Moreover, many recent research studies have shown that FDI in retail trade will be disastrous for the country. A most recent study by this commentator, the results which have been published in the form of a book entitled, “FDI in Retail Trade in India: a Retrograde Step” by M/s RAC Publications, No. 38 (Old No. 76-A) Choolaimedu, Chennai-60094, concludes as follows: “Evidences from various parts of the world indicate that   widespread   emergence of big format retail super stores have lead to extensive ruin of retail stores/shops thereby resulting in the loss of employment and livelihood to millions of persons involved in retail trade.…The inescapable conclusion is that any disruption of the prevailing system of retail trading will affect all sections of Indian society.  FDI in retail trade will not serve any purpose. It will do more harm than benefit the people”

Dr. C.Murukadas, The Times of India, Dec.2, 2012.