Sunday, September 19, 2021
HomeBusinessRSS affiliate seeks withdrawal of 100% FDI in food processing sector

RSS affiliate seeks withdrawal of 100% FDI in food processing sector

RSS affiliate Swadeshi Jagran Manch today sought the withdrawal of 100 per cent FDI in the food processing sector announced in the budget, saying it would trigger unemployment in the country.

RSS affiliate seeks-AV“The food processing sector is generator of large volume of employment and does not need huge technology investment. But allowing FDI would mean huge investment on advanced technology and dampening of employment growth,” National Coordinator of the manch Arun Ojha said.

He said this proposal would affect Indian consumers on large scale and would bring in advanced technology, thereby triggering unemployment.

“This step would also pave the way for the FDI in retail sector from the back-door, which we have been objecting to since long,” he said.

Ojha also targeted US biotechnology major Monsanto, saying it was the result of the struggle led by the Manch against GM seeds, that had led to the company re-evaluating its presence in India.

“Currently, 80 per cent share of the Indian seed market is in the grip of MNCs. If GM crops are imposed on Indian agriculture practices, this would make our farmers slaves to the MNCs,” Ojha said.

The SJM National Coordinator also welcomed the budget’s emphasis on rural sector, saying it was the first time in history that government had shifted its focus to agriculture, but added that there was still a lot to be done to protect the country from “the ills of globalisation, privatisation and liberalisation.

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