Mangalore : The members of district BJP staged protest in front of DC Office on Nov 30, 2011 against the Union Cabinet’s decision to allow 51 per cent foreign direct investment in multi-brand retail.

Addressing the protestors, District BJP president Padmanabha Kottary said that BJP will never allow foreign companies to open multi brand retail stores. He also said that the arrival of foreign companies in the country in this fashion may lead to their indirect rule in India.

He said that at present 98 per cent of retail trade in India is under unorganized sector. About 15 crore people are maintaining their families with it in every lane and block of the country. If the foreign companies are allowed in then crores would be rendered unemployed.

In the country’s GDP around 14 percent of share is in multi-brand retail. This field has given job opportunity to four crore people and over 11,00,000 lakh crore business are working in this field.

BJP Mangalore City President Srikar Prabhu said that the move of foreign direct investment was fraught with danger as it would lead to massive unemployment and destruct the existing business and supply chains.

He also said that in these 64 years people of the country are struggling for the freedom and now the central goveernetn brought this new rule of foreign direct investment, which is the matter of foolishness.

FDI in retail trade will also ruin the farmers because the foreign companies will take their land on lease and force them to grow crops according to their choice, he added.

BJP district vice president Umanath Kotian, Sulocahana G K Bhat, state vice president and others were present at the protest.