The UPA-II government is hell-bent to impose Foreign Direct Investment (FDI) in multi-brand retail. The cabinet has already taken decision in the matter for allowing 51% FDI, despite widespread opposition from traders, opposition parties and even some of the allies in the UPA. The decision was taken by the government against the solemn assurance in the Parliament by the present President of India and  then Finance Minister, Pranab Mukherjee, that the decision on FDI in retail would not be taken till there is a consensus.

The issue did not start now. In 2004, Hilary Clinton visited India and met Prime Minister Manmohan Singh and pressurised for early decision on FDI in retail so that MNCs like Wall Mart can descend to India to maximise their profit. It is said that the Prime Minister suggested to Hilary Clinton to meet Budhdeb Bhattacharya, then Chief Minister of W.Bengal and persuade him to agree. The Left Parties  were then supporting the UPA-I Government and the latter cannot afford to agree without the consent of Left. Of course, Budhdeb did not agree. The Left Parties continued their opposition and the government could not bring FDI in retail.

Again in 2012 Hillary Clinton arrived in India and the main purpose was to ensure that the government clears FDI in detail. Within weeks, the Cabinet took the contentious decision. The first four days of the winter session of the Parliament was disrupted due to the adamant position of the government denying discussion.  At last it was compelled to announce that the matter can be discussed under Rule 184 with voting.

The discussion will take place on 4^th and 5^th of December 2012. Though the Congress as usual is stated to have managed a majority in the Lok Sabha somehow, as they have done earlier by corrupt means, it will be a problem for it in the Rajya Sabha where the opposition parties are in majority.  What will happen in the Lok Sabha is also to be seen due to the vacillating stand of parties like BSP and SP.

Government is propagating that FDI in multi-brand retail will bring huge foreign exchange, will reduce the prices and will benefit the farmers and agricultural producers. According to the government, it will generate much required employment also. Hence all parties should support this benign decision according to the government.

The why the Left and other opposition parties are opposing? The arguments of the government are against the well-known facts. Wall Mart, Carryfour and other such giant MNCs have entered many countries and what happened there  is for all to see. The Foreign Exchange brought by these MNCs has been taken back from those countries with big profit. The concerned countries did not benefit at all. The prices might have gone down initially but again it has gone up. Millions of retail traders had lost their jobs compared to the small number of people who got jobs in these malls or marts.  It is preciously what will happen in India also. About 4 crore retail shops are going to be adversely affected by the entry of these giant shops. The future of  4 crore families with about 15-20 crores of dependent people  are going to be doomed. Farmers will not get any benefit since the MNCs will decide the prices. The Wall Mart is not allowed to start shops in many of the states in USA, including New York by the people there, mainly because of all these disadvantages. The beneficiaries will only be the MNCs and the country of their base since the profits will be taken back. Wall Mart is facing charges of bribery for operations in Mexico, China and India.

The government will have to amend the Foreign Exchange Management Act (FEMA), since FDI in retail sector is completely banned by  FEMA. The amendments made by the Reserve Bank in this connection will have to be approved by the Parliament. This also will be a bottleneck for the government which require at least 30 days’ notice.

The Left  and other opposition parties are determined to defeat the move of the government. They have already started well-planned propaganda among the people. A well-attended meeting of the four Left Parties viz , CPI(M), CPI, RSP and Forward block was held at Constitution Club in Delhi today, 3^rd December 2012, with participation of the retail traders’ organisations. Coms. Prakash Karat, Sitaram Yechury (CPIM), A.B.Burdhan, D.Raja (CPI), T.J.Chandra Chudan(RSP), Biswas (FB) and other leaders addressed the meeting. They declared that the fight will be taken up not only inside the Parliament but outside also. They stated that even if the government manages to approve the decision in the Parliament somehow, they will organise a strong protest movement and will not allow the Wall Marts to open shops in India.

Yes, there is no doubt that the entry of Wall Mart and other such MNCs are against the interest of the country and the people and have to be resisted with all our might. Let us all be part of this resistant movement.