Opposing the government's decision to allow foreign direct investment in key areas of the economy, Left parties on Wednesday said they would organise protests against the move, which would have "serious deleterious effects" on people's livelihood.
The CPI (M) and CPI said opening up of the retail sector would lead to the entry of big retail chains and multinational giants, and asked the people to protest the government's move.
The issue will come up for discussion among all the four Left parties at a meeting in New Delhi on January 27. The parties, which are supporting the United Progressive Alliance coalition from outside, have already submitted a note on retail sector to the government.
"Our party's position is clear. We are opposed to FDI in the retail sector," CPI(M) Politbureau member Sitaram Yechury said, adding that "the government says it will allow FDI in branded goods. But it is a loose term as anything can be branded. We want the government to specify the items where FDI is allowed."
"Retail sector contributes very significantly to the country's GDP and employment... and if you allow FDI in this sector, it will hamper employment opportunities," he said.
CPI national secretary D Raja told PTI that "The government was to respond to the note we have submitted. When the issue is under discussion, they have taken a decision unilaterally.
"We strongly oppose the move. We will mobilise people to protest," he said.
In a statement, CPI (M) Politbureau said the decision to allow 51 per cent FDI in retail sector would have "serious deleterious effects on the economy and the life of the people" and called for protests against the government move.