Jayalaithaa opposes FDI in retail

CHENNAI: Flaying the Centre's decision to allow FDI in retail, Tamil Nadu chief minister Jayalalithaa today alleged it was taken under pressure from a few retail giants and asserted her government would not allow multi-brand global players to set up their markets in the state.

Strongly opposing the decision to open up retail trade to FDI, Jayalalithaa demanded that the Congress-led UPA government reverse the 'ill-advised' move as it would not serve to bring down inflation or improve market efficiency.

Rather, the domestic manufacturing and services sector would take a serious hit and the retail trade completely taken over by the MNC dominated big retail giants which is not good for the country, she said in a strongly-worded statement.

"While Parliament is in session, this move of the Government of India..without even consulting the state governments is unprecedented and indicates the overweening arrogance of the UPA goverment," she said.

The FDI policy in the retail sector was a "sensitive issue and by making this sudden announcement ignoring the sentiments of the people, the Central government has stirred the "proverbial Hornet's Nest," she said.

Jayalalithaa described the Centre's move as a "wrong decision, Read more