Chances of foreign investors to enter West Bengal?s retail segment seems to be bleak with the Trinamool Congress (TC) spelling it out clear that it would by all means oppose FDI in multi- brand retail.
West Bengal?s leader of the Opposition Partha Chattopadhyay in an interactive session, organised by the Merchant?s Chamber of Commerce, said while we won?t allow foreign investors to set up retail shops in the state, we would similarly oppose it at Parliament when the Bill proposing FDI in multi- brand would be tabled.
?We won?t be like the CPM supporting something in Delhi and opposing the same thing here in the state,? Chattopadhyay said.
After allowing 100% FDI under the automatic route in ?B to B? segment and 51% FDI in single brand retail, the government is considering allowing FDI in multi-brand retail.
Chattopadhyay said we are on a whole opposed to large corporate players led organised retail in the interest of medium and marginal traders.
The chambers in Kolkata have already started interacting with the opposition leaders in the state with a view that there would all likely be a change of guard in the state after the assembly elections, the dates of which would probably announced on March 3.
The business community is trying to get an idea of the business environment it would get after a probable change of guard especially keeping in mind Nandigram and Singur that had not allowed land acquisition for a petro and petrochemical investment region and the Tatas to put up their Nano plant. .
MCC president Sudesh Sonthalia, who raised issues of land for industrial projects and the policy TC would follow in regards to special economic zones, was denied an answer with Chattopadhayay telling that he would not lay a paper on such issues when elections at the state were knocking at the door.
?I cannot lay a paper or even my party cannot lay a paper on issues of land and SEZ when elections are knocking at the door,? Chattopadhyay said. ?The railway Budget that my leader has placed in the parliament is a clear indication of her ability and this shows how she will rule the state,? Chattopadhyay said.
He however opposed the idea that the TMC was creating obstructions to industrialisation in the state, saying that from 1991 to 2010 the state government made 5,548 industrial approvals but only 1,718 projects have been implemented so far.
?Did the TC object to any of these industries coming in,? Chattopadhyay said adding that the present CPM government instead of using West Bengal Industrial Development Corporation as a facilitating agency for industrial growth has used it as broker for land grabbing.
For rapid industrialisation in the state, creating a land bank would be TMC?s priority if it came to power and that every industry willing to invest in the state would have to give a prior declaration of employment it would give, Chattopadhyay said.
