New Delhi: The CPI(M) on Monday denounced US President Barack Obama for asking India to allow Wal-Mart to operate in Indian retail trade and asked the government not to succumb to American pressure.
The Communist Party of India-Marxist said it "objects to the remarks by Obama that India open the doors to Wal-Mart for retail trade and other American investments in India.
"The statement is a brazen attempt to pressurize the UPA (United Progressive Alliance) government to adopt such steps as opening multibrand retail to FDI".
"The Manmohan Singh government should not succumb to this pressure," the party added in a statement.
"The CPI(M) wants the government not to open up retail trade to foreign supermarket chains which will endanger the livelihood of lakhs of small shopkeepers and traders."
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Wal-Mart Stores, Inc. is an American public corporation that runs a chain of large, discount department stores. It is the world's largest public corporation by revenue, according to the 2008 Fortune Global 500.Founded by Sam Walton in 1962, it ...
Barack Hussein Obama II is the 44th and current President of the United States, having taken office in 2009. He is the first African American to hold the office. Obama previously served as a United States senator from Illinois, from January 20 ...
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