Udhampur, Dec 2 (ANI): Former Jammu and Kashmir Chief Minister and patron of Peoples Democratic Party (PDP), Mufti Muhammad Sayeed, has opposed the government's decision to allow Foreign Direct Investment (FDI) in the multi-brand retail sector.
Taking to reporters here, Sayeed said: "India must develop like Europe. India must develop like America but we need to pay attention to ground realities. Poor people, who are dependent on daily wages, shouldn't loose their means of livelihood. We need to pay attention to that."
Last Thursday, the Cabinet approved 51 percent FDI in multi- brand retail, As per this move, many global retailers like Wal-Mart, Carrefour and Tesco can open outlets in India.
But the new policy, seen as one of the most important government economic reforms in years, may commit supermarkets to strict local sourcing requirements and minimum investment levels aimed at protecting jobs.
Meanwhile, Sayeed also urged India and Pakistan to resolve the Kashmir issue by adopting self-rule method proposed by him.
"If Indian Prime Minister Manmohan Singh and Pakistani Prime Minister Yousaf Raza Gilani were to initiate a peace talks and if they asked the local people what is the solution to the problem? I want to tell that solution of Kashmir would be through our model of self-rule, which is based on reality," added Sayeed. (ANI)
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