Arjun Munda plays to the gallery on FDI in multi brand retail


FDI in multi brand retail,Chief Minister Arjun Munda,FDI LogoBy taking the party’s line on the FDI in multi brand retail,Chief Minister Arjun Munda today played to the gallery eliciting a positive response from among businessmen in Jharkhand.

“We are glad that he made it clear that this state will not allow the FDI in multi brand retail”,said Ranjit Tibrewal,president of Federation of Jharkhand Chamber of Commerce and Industry(FJCCI).Tibrewal’s opinion is symptomatic of a general opinion of businessmen in this state who were opposed to the FDI in multi brand retail.

In fact,many of them were traders.Since their multi crore rupee business was dependent on procuring goods from farmers and supplying them to retailers at a price dictated by them,they fear that once FDI in multi brand retail was implemented,they will get wiped out.

Aware of their sentiments and in view of his party BJP having decided to oppose the FDI in multi brand retail,Munda said:””I have spoken to all our coalition partners.We all are in agreement that the FDI will not be implemented in the state.”

Munda,who heads a coalition government led by BJP,expressed his opinion while addressing a function organised by the Federation of Jharkhand Chamber and Industries in Ranchi.

Though Munda was applauded by the FJCCI leaders including Tibrewal,Sudhir Nag,an industrialist,who was in favour of the FDI in multi brand retail said:”Every body knows that the FDI will benefit the farmers and consumers both.”

Nag further added:”While the former will get higher price of their products than they were getting from these traders,the consumers will get the branded material and not the spurious ones they were compelled to purchase right now.In addition,the cold chain will get strengthened helping the farmers in the long run.This is what happened in China after it allowed FDI in multi brand retail.”

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