OP Sah. Telegraph picture

Patna, July 20: Representatives of trade, industry and farmers commission have opposed the Centre’s move to allow foreign direct investment (FDI) in multi-brand retail sector. They said it would ruin the prospects of lakhs of retailers and small entrepreneurs of the state.

The representatives of Bihar Industries Association (BIA), Bihar Chamber of Commerce (BCC) and Farmers’ Commission were present in a high-level meeting convened by the state government yesterday.

Following the Centre’s recent letter to chief minister Nitish Kumar, aimed at building a consensus for rolling out FDI in retail, Bihar chief secretary Navin Kumar convened the meeting to learn about the opinions, views and suggestions of various stakeholders in this regard.

BCC president O.P. Sah said: “The Centre’s decision to allow FDI in multi-brand retail would neither be in the interest of farmers nor consumers. In fact, it would be disastrous for both. The Centre is keen on allowing major foreign or Indian-based foreign organisations to take part in these trading competitions, that it is bound to kill the local trading community, besides severely hampering the prospects of industries and growers.”

Making a fervent appeal to Nitish not to allow FDI, Sah, said the chamber was not opposed to idea of FDI in infrastructure or in the technology sector.

Bihar Industries Association president KPS Keshri told The Telegraph that the government should not allow FDI in multi-brand sector till the government comes out with proper safeguards for farmers in general and retailers in particular.