Decision regarding 51 percent FDI in multi-brand retail being approved by the Cabinet is opposing by BJP and allies together to roll back gaining momentum.
While on Monday evening, Prime Minister Manmohan Singh called an emergency meeting at his house and Industry Minister Anand Sharma, Finance Minister Pranab Mukherjee and AK Antony were attended the meet.
The main threat is – will it create jobs or takeaway jobs?
To the reporter, Rajan Bharti Mittal, Bharti Walmart Chairman said, “Retailing in India will bring different contours for farmers, small manufacturers and employment.”
“Today, modern retail offers creation of 8-10 million jobs over the next 8-10 years. I don’t think this kind of employment generation possible in any other industry intervention,” said CII National Retail Committee Chairman Thomas Varghese.
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