Opposing the central government’s proposed decision to ease up foreign direct investment (FDI) in retail, CPM’s central committee has asked the Left-ruled states to regulate the entry of corporates in retail by adopting an ‘alternative policy’ that might address concerns of small retailers.
“At present, there is no law to restrict entry into the corporate sector. Taking advantage of this, companies like Reliance have entered the retail trade,” says the draft political resolution that was presented at the party congress.
The CPM has set out a policy document for licensing and regulating the entry of corporates in retail trade. Till the central government creates a particular policy, the Left-led governments should take steps to regulate entry of big companies in the business of retail, the document outlines.