BMS slams govt on FDI decision, asks to call stakeholders meet

RSS-backed Bharatiya Mazdoor Sangh (BMS) today opposed government's decision to relax foreign direct investment norms and demanded discussion on the issue with all stakeholders.
Government today relaxed FDI norms in a host of sectors including civil aviation, single-brand retail, defence and pharma by permitting more investments under automatic route.
"It is not appropriate to open important sectors like defence and civil aviation for FDI ... BMS demands the government calls a meeting of all stakeholders to discuss the FDI issue," BMS General Secretary Virjesh Upadhyay said in a statement.
BMS said that after making a lot of efforts to boost FDI in the country, neither investments flow increased nor the employment.

It alleged that foreign companies often grossly violate labour laws of the country.
The union said that FDI is not the only way out for industrial development and job creation.
BMS said that various reports by economists and experts suggest that eight times of FDI in India, went out of the country and thus nation has not benefited from it.