Indian Muslim organization criticises govt over FDI

(Ahlul Bayt News Agency) - Indian Muslim organization, Jamaate-e-Islami Hind (JIH) criticised the Union Cabinet’s approval of relaxing the cap on Foreign Direct Investment (FDI) in retail sector. “We strongly criticise the Union Cabinet’s approval of relaxing the cap on FDI in retail sector and is of the opinion that this move of the government is against the interest, of about 45 million small traders, who form about 10 per cent of the total work force of 45 crore Indians,” said Mohammed Jafar, Vice President of Jamaate-e-Islami Hind (JIH) Saturday while speaking at a press conference. “It is against the interest of the common man and highly dangerous in the long run for the economy of our country and would even undermine the sovereignty of India. This decision indicates that our government is under tremendous pressure from capitalist and imperialist powers and their representatives in our country,” said the Jamaat VP. Ejaz Aslam, Media Secretary, JIH, briefing the media persons on FDI in retail sector, said, “the decision allows foreign direct investment (FDI) to 51 per cent in multi-brand retail and 100 per cent in single-brand. We are surprised and shocked why, in spite of strong resistance from the public and retail traders, the government took such a hasty decision. The Congress Party that leads the UPA has gone to such an extent that the resentment and reservations of the coalition partners are taken very lightly and is bent upon appeasement of giant corporate houses. We regret that the UPA government headed by a renowned economist failed to evaluate the economic crisis in Europe and the West, created by the uncontrolled market-economy policy that they follow. The entry of corporate in retail sector would lead only to mass unemployment and collapse of vital agriculture sector.” “We are of the opinion that the future of nearly 45 million people engaged in this trade should not be thrown to the cruel mercy of the giant corporations. It is equally worrying and disturbing that the government is seriously thinking of easing the cap of FDI in pharmaceutical sector also. The average citizen will suffer further with the monopoly and exploitation while the Indian pharma companies are being largely acquisitioned by foreign firms and making access to healthcare difficult for poor people. We demand from the government to take this decision back in the interest of the common citizens. We are strongly of the opinion that the government allowing FDI in various sectors one after another would lead us towards the state of helplessness and slavery,” Aslam added. He said that the FDI in the media sector has already started swallowing the small scale Indian media. Likewise, allowing the foreign universities to do business in our country to save their collapsing economies would demolish our educational infrastructure further. Engineer Mohammed Saleem, PR secretary of JIH, said, that the curtailing of subsidies on basic amenities under the pressure of IMF and World Bank would make the life of common Indian further miserable and may lead to unrest and chaos in the country. “We strongly believe that these are the results of interest based uncontrolled economy and we propose that the country should seriously consider the interest-free and controlled economy to save the country from falling into deeper problems.”/129