Nitish welcomes FDI in infrastructure sector, not in retail

Patna,(BiharTimes): Stating that Foreign Direct Investment (FDI) in multi-brand retail sector is not in the interest of the country chief minister Nitish Kumar on Wednesday said he would rather welcome FDI in infrastructure development such as building roads, ports and power plants as in that case the capital would remain in the country.

Talking to the mediapersons on the premises of the state Assembly before leaving for New Delhi, he said FDI in retail would only increase unemployment. The move was definitely not in the interest of traders, farmers as well as common people.

Nitish said the FDI in retail sector would only please foreign powers. Replacing the small and petty traders with big malls in retail would be suicidal for the economy and cannot remove unemployment, as is being claimed. The nation does not need FDI but promotion of small traders.




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