FDI Row: ‘Duplicity of Prime Minister and his party stands exposed’

Nearly six years after its leaders vehemently opposed the Congress-led government’s decision to allow FDI in retail, the BJP-led Union government on Wednesday allowed overseas investors to make 100 per cent FDI (foreign direct investment) in single-brand retail trading and construction development. It also approved changes in FDI norms to allow foreign airlines to own 49 per cent in Air India under the approval route.

Last year, the government had eased FDI norms in pharma, aviation and defence sectors.

On social media, many users are training their guns on the Modi government, calling the bluff on BJP leaders including the Prime Minister Narendra Modi, Finance Minister Arun Jaitley, Vice President M Venkaiah Naidu and External Affairs Minister Sushma Swaraj.

A video of then Gujarat Chief Minister Narendra Modi shows him accusing the UPA government of acting against small businessmen and shopkeepers has again resurfaced on social media. Modi had then maintained that allowing FDI in multi brand retail would mean immense harm to small shopkeepers, hit the domestic manufacturing sector and create joblessness. He had also apprehended that the proposal would also mean cheap good produced outside being dumped into our nation.

Watch Prime Minister Narendra Modi’s views on FDI in 2013, below:

In March 2013, assuring support to the traders opposing the Congress-led government’s decision to allow FDI in retail, BJP leader Arun Jaitley had said that his party would oppose the move till its “last breath.” “FDI is not in favour of the consumer, farmer, trader, manufacturer and the country. That’s why we are opposing it and will continue to oppose it till our last breath,” Jaitley had told a rally in New Delhi.

Asserting that FDI in multi-brand retail will sound the "death knell" for small industries and traders, BJP leader Sushma Swaraj in December 2012 had accused the UPA government of having failed to evolve a political consensus on the controversial issue despite making a promise in Parliament.

“International experience shows that retailers do predatory pricing, and once they come to India, they will reduce prices so that smaller shops get shut... and when the competition is over, they will raise prices and the consumers will have no option but to buy at high prices,” said Sushma Swaraj in a forceful speech inside Lok Sabha.

In November 2012, lashing out at UPA government over FDI in multi-brand retail, BJP leader and now Vice-President Venkaiah Naidu had alleged that the move was a “cover up” by Congress to divert focus from “large-scale corruption and scams”. Naidu had also staged a sit-in protest organised by his party at Indira Park.

On Twitter, many users accused the BJP led NDA government of taking a complete U-turn on their stand. Some of them quipped as to how a Prime Minister who laid so much emphasis on “Make in India” has now allowed 100 per cent FDI through automatic route in single brand retail. Here is a collection of some curious reactions: