Reliance to oppose entry of monopoly capitalists in retail


Kolkata, The Forward Bloc, which is mounting pressure on Buddhadeb Bhattacherjee government not to allow Mukesh Ambani's Reliance Industries in West Bengal, has decided to oppose the entry of monopoly capitalists in retail trade in the country.

"The All India Forward Bloc is of the firm opinion that there should be no Foreign Direct Investment (FDI) and entry of monopoly capitalists in the area of retail trade in the country," the AIFB all-India general secretary, Debabrata Biswas, said in a statement here.

Allowing FDI and monopoly capital in retail trade would be detrimental to the interests of millions of people engaged in retail trade, said Biswas, whose party is a major coalition partner of the Left Front government in the State.

Biswas said the party's central committee at its three-day meeting which concluded at Bhubaneswar on Sunday decided to intensify the nation-wide movement against the entry of corporate houses in the retail sector.

The Forward Bloc is opposed to the agri-retail project of Reliance in West Bengal on the ground it would harm small traders and farmers.

Biswas said his party was also opposed to setting up of SEZs by the Centre and state governments at the cost of agriculture, small-scale industries and the public exchequer.

"Acquiring agricultural land for SEZs would not only enhance unemployment, but would pose a major threat to food security," he said.

He said the AIFB would launch a nation-wide movement from August 20 against SEZs.

Source : Hindu, India