Basu says retail FDI a win-win situation; Mamata says no

Barasat: West Bengal Chief Minister Mamata Banerjee on Saturday asserted she remained firmly opposed to allowing foreign direct investment (FDI) in multi-brand retail.

Earlier on Saturday, Chief Economic Advisor Kaushik Basu had said in Kolkata that Banerjee would realise the reform would be a win-win situation if properly explained to her.

"Mamata Banerjee is intelligent, but retail FDI argument is very complex. If it is explained to her, then she will understand it is a win-win situation for the people of Bengal," Basu told an interactive session at the Bharat Chamber of Commerce.

However, the Trinamool Congress chief asserted that she remained firmly opposed to allowing FDI in multi-brand retail.

Apparently reacting to Basu's comments, the Chief Minister said: "I do things which I decide... We do not want entry of multi-brand FDI in retail. We will not accept and this is our government's policy".

Banerjee had come to Barasat to review the law and order situation and development projects in the district.

Multi-brand FDI in retail in India was stalled after the Trinamool, UPA's key partner, along with some opposition parties opposed the move.

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