SUCI(C) calls BJP government’s liberalization of FDI a brazen anti-people pro-monopolist move that needs to be thwarted with all might



Shri Provash Ghosh, General Secretary, SUCI(C), has issued the following statement today —

In keeping with its avowed anti-people pro-monopoly policy-directive and overriding the people’s opinion against repeated bouts of privatization of key sectors, the BJP government has now announced 100% FDI in single-brand retail, opened the gate of increased foreign capital infusion in real estate sector by allowing 100% FDI in real estate broking firms and also in healthcare sector by amending the definition of “medical devices” in the FDI policy meaning. There is every reason to apprehend that within no time, route would be cleared for FDI invasion in multi-brand retail as well.  The most catastrophic fallout of FDI in retail sector would be in the form of huge job loss and eventual phasing out domestic small retail outlets providing employment to a large number of impoverished people. Moreover, once monopoly, both domestic and monopoly takes over, monopolistic pricing policy would push the already spiralling price line further up.

It is being seen that the Indian monopolists who have already grown as financial oligarchs and also imperialist features by exporting fiancé capital abroad in the form of FDI are experiencing steep competition in recession-hit global market. So, they are opening up their own market to the imperialist powers, particularly the US imperialism to wrest in exchange some concessions preferences and advantages in making forays in various overseas market. This is the compulsion that prompts the BJP government subservient to bourgeois class interest to progressively open up the country’s economy including its defence sector to FDI.

Also it is noted with deep concern that while the situation demands launch of powerful protest movement both inside and outside the parliament, the opposition particularly those call themselves Marxists-leftists are, besides issuing formal statements, are not taking any genuine initiative towards that end.  It is pertinent to recall that the Congress during its rule had rolled out the policy of FDI liberalization and CPI (M) pursued same pro-FDI policies in the name of industrialization and development while running the governments in West Bengal. Now, they are making a show of opposition solely from electoral interest.

We call upon the countrymen to come out and take up the task of to develop with all might powerful organized conscious people’s movement under correct leadership to thwart such disastrous policies of the bourgeois government and secure life and livelihood of the toiling millions.

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