Akhilesh says 'yes' to FDI in multi brand, Mulayam 'no'

Uttar Pradesh chief minister Akhilsh Yadav has said that his partu is not against the FDI in multi brand retail sector if it is beneficial for the farmers, contradictory to his father and SP chief Mulayam Singh Yadav who has opposing the FDI and even wrote a letter to PM with other Left leaders.

Addressing a conference organized by Federation of Indian Chambers of Commerce and Industry (FICCI), Akhilesh said,"We are not against the FDI in retail. But when FDI in retail comes, the farmer should not be harmed."

"All states want investment. If the manufacturing sector in the country is not harmed, then we are okay with it," he added.

However Akhilesh singh statement is contradictory to his father Mulayam Singh stand on the same issue.

It is noted that few days back in a letter to Prime Minister Manmohan Singh recently, the Samajwadi Party chief urged him that India should not allow foreign direct investment in multi-brand retail. CPI-M general secretary Prakash Karat, CPI leader S. Sudhakar Reddy, Danish Ali of Janata Dal-Secular, Debabrata Biswas of Forward Bloc and Abani Roy of Revolutionary Socialist Party have also signed the letter.

The letter had said that entry of MNC supermarket and hypermarket chains would cause severe displacement of small and unorganised shopkeepers and traders.

(With inputs from IANS)