Nitish against FDI in retail

Patna, Nov 25 (IANS) Bihar Chief Minister Nitish Kumar Friday came out against the central government decision to allow 51 percent FDI in multi-brand retail.

“I am totally opposed to FDI in retail sector in India,” Nitish Kumar told
newspersons here after releasing his report card “2011 – Development With Justice”.

He said that foreign direction investment in retail sector would create unemployment across the country and badly hit small retailers.

“I am not in favour of FDI in retail sector because it will destroy the age-old local retailers. I am against it, to protect the interest of hundreds of thousands of self employed Indians.”

He recalled that he had also opposed the Special Economic Zone (SEZ). Bihar was the only state in India which said no to SEZ.

“I was proved right as the SEZ experiment failed later,” he said.

Referring to his opposition to MNCs’ entry in the farm sector, the chief minister said that he opposed the Seed Bill on the ground that it would hit millions of farmers following the entry of MNCs.

“I also opposed trial of genetically-modified Bt maize in Bihar,” he said.

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