CPI-M strongly opposes Wal-Mart entry into India | SupportBiz

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CPI-M strongly opposes Wal-Mart entry into India

The CPI-M denounced US President Barack Obama for asking India to allow Wal-Mart to operate in Indian retail trade and asked the government not to succumb to American pressure.

The Communist Party of India-Marxist said it 'objects to the remarks by Obama that India open the doors to Wal-Mart for retail trade and other American investments in India'.

"The statement is a brazen attempt to pressurize the UPA (United Progressive Alliance) government to adopt such steps as opening multibrand retail to FDI. The Manmohan Singh government should not succumb to this pressure," the party added in a statement.

The CPI-M wants the government not to open up retail trade to foreign supermarket chains, which will ' endanger the livelihood of lakhs of small shopkeepers and traders'.