With Assembly elections result, Delhi closes its door for FDI in multi-brand retail
A significant yet unnoticed fall-out of the Delhi Assembly elections is that New Delhi will not be playing host to foreign retailers like Tesco, Carrefour, Walmart and others at least for the next five years.
While pointing this out, B.C. Bhartia, National President and Praveen Khandelwal, National Secretary General of Confederation of All India Traders said, “The voters of Delhi have vindicated our stand. With BJP and AAP winning 90% of the assembly seats, even if there is a re-election it is clear that one of these two parties will be running the Delhi government soon.”
They added, “The Centre’s policy on FDI in multi-brand retail has left it to the States to decide if foreign retailers can open stores in their geographic area. Neither the BJP nor AAP are going to permit this in Delhi in the coming years.”
Khandelwal said that the trader community turning against the Congress was a big factor in the Delhi elections.
“With the winds of change blowing in the country, our group will be mobilising the full force of traders with votes numbering over 100 million to actively support the parties that are opposed to FDI in multi-brand retail,” added Khandelwal.