FDI in retail to hit local industry, jobs: Narendra Modi

KAMREJ, GUJARAT: Lashing out at Government's decision allowing FDI in retail, Gujarat Chief Minister Narendra Modi today said it will affect the domestic manufacturing and lead to massive job losses.

"I don't know what the Prime Minister is doing. Smalltime shopkeepers will have to close down due to this decision," Modi said, reacting to the decision on FDI, during his campaign tour through the area.

"Cheap goods produced elsewhere will be dumped in India and it will affect the manufacturing sector of the country as manufacturers of small items will find it difficult to survive," Modi said.

"This will lead to massive job losses for the youth," he said.

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Source: http://economictimes.feedsportal.com/fy/8av2Fvy0eEQ0q38b/story01.htm

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