New Delhi: The Bhartiya Mazdoor Sangh, RSS affiliated workers body, has strongly opposed the government's decision to allow Foreign Direct Investment (FDI) in retail and defence sectors, and has written to Prime Minister Narendra Modi seeking the review of the decisions.
It said the government should talk to all stakeholders and discuss with them whether FDI has helped them or the country.
The BMS will wait for the government's decision to initiate discussion on the FDI and review it failing which the Sangh will protest by taking to the street.
The BMS, in separate letters to the PM and and Finance Minister Arun Jaitley, has also demanded a white paper on the inflow and outflow of the FDI in the country.
BMS General Secretary Virjesh Upadhyay said that allowing FDI in retail will "finish" the local retail sector leading to large-scale unemployment, affecting the poor.
"We are concerned about the retail sector, which is certainly going to suffer the most. We want the government to seriously consider this issue," Upadayay told an English TV channel.
He said the FDI that has come into the country so far has flowed out through outflow and is thus not helping the country.
On allowing FDI in Defence sector, he said it was not good for the country.
In a major push to economic reforms, the government on Tuesday announced a slew of reforms and policy changes in the FDI for 15 major sectors including defence and aviation.
Government has decided to relax its FDI policy in single-brand retail, allowing companies to sell products through e-commerce websites.
The government allowed foreign investment up to 49% in defence sector under the automatic route from the current approval route. Besides, portfolio investment and investments by foreign capital venture investors have been raised to 49% from 24% at present.
