Sangh for FDI protest

J.P. Yadav Jan 12, 2018

Sangh economic wing Swadeshi Jagran Manch on Thursday said the Narendra Modi government's decision to ease foreign direct investment norms would go against the "interest of the country" and urged people to resist the move.

"(The) Swadeshi Jagran Manch strongly opposes the decisions of the Union cabinet allowing 100 per cent FDI under automatic route for single-brand retail and construction development. We also express our strong resentment to (the) Union cabinet's decision to allow foreign investment up to 49 per cent in Air India and other decisions," the organisation's all-India co-convener, Ashwani Mahajan, said.

Mahajan particularly targeted the government's decision to relax the 30 per cent local sourcing condition for single-brand retail, saying it ran counter to the government's "Make in India" policy.

The Confederation of All India Traders, close to the Sangh-BJP, too opposed the "hasty decision" and announced a meeting on Tuesday to devise a strategy for protests.

Reference

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