Akhilesh Yadav's statement contradicts the stand of Mulayam Singh Yadav, who has opposed the issue and said overseas investments would virtually destroy India's retail sector. AP File Photo
Uttar Pradesh Chief Minister Akhilesh Yadav Tuesday said his
party would support foreign direct investment (FDI) in multi-brand retail if it
benefited farmers, contradicting his father and Samajwadi Party chief Mulayam
Singh Yadav's stand on the controversial issue.
"We are not against the FDI in retail. But when FDI in
retail comes, the farmer should not be harmed," Yadav said at an event
organised by the Federation of Indian Chambers of Commerce and Industry (FICCI)
He said like other states, Uttar Pradesh, too, was keen to
get overseas investments to boost manufacturing.
"All states want investment. If the manufacturing
sector in the country is not harmed, then we are okay with it," he said.
Akhilesh Yadav's statement contradicts the stand of Mulayam
Singh Yadav, who has opposed the issue and said overseas investments would
virtually destroy India's retail sector.
In a letter to Prime Minister Manmohan Singh recently, the
Samajwadi Party chief urged him that India should not allow foreign direct
investment in multi-brand retail.
The letter was signed by Mulayam Singh Yadav, CPI-M general
secretary Prakash Karat, CPI leader S. Sudhakar Reddy, Danish Ali of Janata
Dal-Secular, Debabrata Biswas of Forward Bloc and Abani Roy of Revolutionary
"Entry of MNC supermarket and hypermarket chains would
cause severe displacement of small and unorganised shopkeepers and
traders," the joint open letter to the prime minister said.
The central government early this year suspended the
implementation of the decision to allow FDI in multi-brand retail following
protests from principal opposition Bharatiya Janata Party and some of the key
constituents of the United Progressive Alliance (UPA), notably the Trinamool