rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Keith Vaz wary of Indian govt's FDI in retail stand

Keith Vaz wary of Indian govt's FDI in retail stand

September 20, 2012 11:22 IST

US dollarsIndian-origin Labour Member of Parliament Keith Vaz has advised Indian legislators to be careful while handling the issue of foreign direct investment in retail, cautioning that a major dominance by super markets may not be in the interest of common man.

Vaz, chairman of the Britain's Home Affairs Committee, said though he was not in a position to advise Indian MPs but he would still say, "please be careful. Modernise the retail but don't hand it over".

"If India allows big Super Markets to come there, they will not hesitate to have same dominance as in the USA. I don't think it is good for common man," he feels.

Vaz was speaking at a function organised at the Crown Plaza hotel here by the Indian Journalists Association on Wednesday night to celebrate his 25th anniversary in British Parliament.

Vaz, who is also playing a key role in creating awareness of diabetics and its effect, said he would hand over a bus to Amitabh Bachchan on October 4 in Mumbai which will travel around Mumbai raising awareness about diabetic disease.

Referring to visa restrictions on non-EU students, Vaz said, "Our education sector will completely collapse without Indian students".

"Indian students don't want to come here to work in TESCOs but study. A vast majority of students from India are genuine students".

He said the London Metropolitan University issue where a lot of students were left in the lurch was badly handled but did not elaborate.

H S Rao in London
© Copyright 2014 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.