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| JKPDN supported 51% foreign direct investment | | | EARLY TIMES REPORT
JAMMU, Nov 28:J&K Democratic Party Nationalists, an alliance partner of Congress in the coalition Govt. in the State, has forcefully defended and supported the union cabinet decision to allow 51% foreign direct investment (FDI) in multi brand and retail business in the country.
In a press statement issued here today, the Gen. Secy. of Jammu wing of DPN Tejinder Singh, Advocate has said that the opposition to the FDI in multi brand trade in the country is totally misplaced and unfounded. It is politically motivated, as it hurts the vested interests of some political parties, who thrive on the funding by the wholesalers and vested interests in the business in the country. Economically the policy is quite sound and even benefit all sections of the people, particularly the consumers and more so among the consumers belonging to the poor strata of the society. It will bring down inflation and make available consumer items of daily use much cheaper, while the farmers and manufactures of goods will also be benefited, with the elimination of hoards of middle men. Above all it will solve the colossal problem of unemployment in the country, by creating millions of jobs in various categories and levels to the unemployed.
Tajinder Singh has further said that the wolf cry raised about foreign political domination over the country through their entry in the trade, citing example of East India Company, whose entry in India 300 years ago paved way for British imperialism making India its slave is totally misplaced. India is today a very advanced and economically highly progressive country, on the threshold of becoming a super power. It is politically united, with strong feeling of nationalism and national unity, despite diversity. And no power on earth can politically dominate and enslave India. By becoming a global economy India will benefit economically as well as politically and will also leave its cultural impact on other civilizations, as a very good number of Indians presently excel in different fields in the world.
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