Foreign companies eying on India’s retail market: BJP

Excelsior Correspondent
JAMMU, Sept 16: To review the ongoing exercise of ” primary membership drive” in the State, BJP Member of Parliament & National Incharge, membership, Radha Mohan Singh chaired a meeting of State office bearers, district presidents, district membership incharge and morcha presidents at Party Headquarters here today.
The meeting was convened under the chairmanship of State President, Shamsher Singh Manhas.
State Membership Incharge Mohan Singh Chouhan, who also conducted the proceedings of this day long meeting, gave a detailed report of the progress made so far in every district.
Expressing satisfaction over this hectic exercise, Radha Mohan Singh said that it is indeed a great achievement that the party has been able to get the number of members in Kashmir and Ladakh more than the expected.
Referring about the current situation arising out of the Congress-led UPA’s decision on Foreign Direct Investment ( FDI), Mr Singh said that foreign retail companies had been eying on India’s retail market which has an annual turnover of thousands of crores of dollars and is going up at the rate of seven per cent annually. After country’s economic reforms in 1990, major foreign retail companies were making repeated attempts to grab our market. The Congress, under pressure from the foreign countries, has compromised on nation’s interests and granted permission for 51 per cent investment under FDI. This decision cannot be justified in any way, he added.
Radha Mohan Singh said that the Congress-led UPA has worked to dilute country’s social and cultural identity by granting permission for 100 percent foreign investment in ” single brand retail”, 51 percent in “multi-brand retail” and 74 percent in “cable & direct to Home TV”. The employment migration and cultural defacing can lead to social and cultural unrest in the country, he added.
The meeting was attended by Chander Prakash Ganga, Bali Bhagat, Satish Sharma, Sat Sharma (C.A.), Usha Choudhary, Kavinder Gupta, Sunil Sharma, Shilpi Verma, Rajesh Gupta.