CPI-M blasts 100 percent FDI in e-commerce retail | Current Affairs, Current Affairs 2018

CPI-M blasts 100 percent FDI in e-commerce retail

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cpiThe CPI-M dubbed the government move to allow 100 percent FDI in e-commerce retail “an outright surrender to the big foreign  retail firms” and demanded its scrapping.

“This is clearly announced to appease foreign capital on the eve of (Prime Minister Narendra) Modi’s US visit,” the Communist Party of India-Marxist said in a statement.

“It is also a surrender to the pressures of the EU (European Union) keeping in mind the ongoing Free Trade Agreement talks with EU and the prime minister’s visit to Brussels.”

The CPI-M said the Bharatiya Janata Party (BJP) had been vocal against the FDI in retail trade when it was in the opposition.

“Now it has done a somersault. Allowing of FDI in e-commerce will facilitate the backdoor entry of FDI in retail. This will affect the livelihood of lakhs of small retailers in the country.”

The CPI-M demanded that “this harmful policy be immediately rescinded

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