Press Statement

The Polit Bureau of the Communist Party of India (Marxist) has issued the following statement:

As part of the move to liberalise the economy, the UPA government has decided to allow Foreign Direct Investments in several key areas, including retail trade, power trading, processing, warehousing of rubber and coffee, coal mining, airports and petroleum infrastructure.

The retail sector has been opened up for the first time allowing 51 per cent of FDI. The stipulation that it will be for single brand shops does not mean that it will apply to single product only but can cover a variety of products under a single brand name. Through this decision, the UPA government has virtually opened up the retail trade to multinational giants. The decision of the government to open up the key areas will have serious deleterious effects on the economy and the life of the people.

The Polit Bureau urges upon the people to come forward to protest against the decision of the UPA government.