Tamil Nadu not to implement FDI in multi-brand retail: Jayalalithaa

Tamil Nadu not to implement FDI in multi-brand retail: Jayalalithaa
Chennai:  Slamming the Congress-led UPA government at the Centre for taking the 'unfortunate decision' of allowing 51 per cent FDI in multi-brand retail, Tamil Nadu Chief Minister J Jayalalithaa today said her government would never implement it in the state.

"I understand that the states will be allowed to decide whether they want to opt for it or not. I think there is going to be a lot of confusion as well as administrative problems in dealing with this issue, which will only fuel uncertainty, thereby crippling the growth of our economy further," she said.

Ms Jayalalithaa said she would like to register her 'unequivocal opposition' to the Centre's decision and demanded that it be withdrawn immediately. "Further, my Government will never allow FDI in retail trade in Tamil Nadu," she said in an official statement here.

She described the Centre's decision okaying the proposal both in multi-brand retailing and aviation 'shocking', saying the concerns of state governments and other stakeholders had been ignored, "which shows the utter disregard for the sensitivity of the issue and panic in the UPA Government."

"This decision is totally undemocratic and against public interest. The UPA Government has been making blunder after blunder by adopting many anti-people policies and this latest decision will only add up to one more such serious blunder committed by the Central Government, which seems to be totally unmindful of the interests of the common people," Ms Jayalalithaa said.

Holding that the announcement came a day after government gave a 'rude shock' to people by increasing diesel prices, she said it had dealt yet "another blow to the common man.

The announcement would only increase woes of the people and local traders, she said while recalling her earlier opposition.

"This is an ill-advised move and I reiterate my opposition to this unfortunate and untimely decision," she  said.

Ms Jayalalithaa said the UPA government was always in the habit of diverting people's attention from the main issues by confusing them with such policies. "As I have earlier stated, FDI in retail is neither going to bring down the prices nor will it improve the investment climate."

"It will only promote growth of large monsters in the name of MNCs, which will destroy the small and marginal traders and exploit consumers through their predatory pricing as has already happened in many countries all over the world in the past," she said.

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