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Rediff.com  » News » Won't back decision to allow FDI in retail: DMK

Won't back decision to allow FDI in retail: DMK

November 20, 2012 00:15 IST

Breaking his silence on FDI in multi-brand retail, Dravida Munnetra Kazagham chief M Karunanidhi on Monday said his party will not support the Centre's decision to allow foreign investment in the sector.

"We are not in favour of the decision to allow FDI  (in multi-brand retail)," he told reporters responding to a query on what was the DMK's stand on the FDI issue.

DMK, a key constituent of the ruling UPA government, had recently refused to clarify its stand on the decision to allow FDI in multi-brand retail.

"Small and medium retail traders in Tamil Nadu are apprehensive that Foreign Direct Investment would greatly affect them. We would discuss and take a decision on this (FDI) keeping their interest in mind," Karunanidhi had said last week.

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