New Delhi: Hitting out at the United Progressive Alliance (UPA) government over the recent reform measures, the Bharatiya Janata Party (BJP) has said that it will scrap foreign direct investment (FDI) in retail if voted to power.
The announcement was made on Wednesday by BJP vice president Mukhtar Abbas Naqvi.
This comes after key NDA ally, the Shiromani Akali Dal (SAD) broke ranks with the alliance saying it supported FDI in retail.
This comes after key NDA ally, the Shiromani Akali Dal broke ranks with the alliance saying it supported FDI in retail.
Punjab Deputy Chief Minister Sukhbir Singh Badal said that his party would back FDI if the Centre addressed the grievances of the traders.
The BJP, however, denied any rift in the NDA over the issue. Senior BJP leader Ravi Shankar Prasad said, "Sukhbir Singh Badal's statement is being projected wrongly. He has clarified that FDI in retail is not in favour of the farmers."
The BJP also clarified that it was not a question of the quantum of FDI to be allowed and the party was fully against it. Party president Nitin Gadkari elaborated on the point in his inaugural address at the BJP's National Executive Meet in Surajkund.
The BJP insisted that it is not against reforms and is proud of its "record of governance, reforms, pro-people policies and equitable growth".
The party pointed out that there are several hurdles in the implementation of the UPA decision on FDI in multi-brand retail, saying India is a signatory to bilateral agreements with 82 countries where it cannot stop foreign multinationals from entering certain states if it is allowing domestic companies to set up shop.
It said the Kerala High Court verdict, which said FDI in multi-brand retail cannot be allowed, will also have to be respected. All the BJP and NDA ruled states are opposed to the policy.
(With Additional Inputs from PTI)