The Manch also has concerns over government's "Make in India" mission and e-commerce, saying it will hurt the country's interests and there is need to promote 'Swadeshi' products.
"Swadeshi Jagran Manch demands that the government comes out with a white paper on FDI," its national convener Ashwani Mahajan told PTI.
"FDI is not a panacea of all ills. It is not a solution for all problems. FDI has done bad and good to the economy. There have been more outflows than inflows of FDI. In 2013-14 alone while there has been 21.5 billion USD inflows, there has been an outflow of 34.4 billion USD," he said.
He said the Manch will also put forth its concerns over e-commerce and 'Make in India' mission before the government soon.
"E-retailing by multinational websites like Amazon and e-bay in India are badly affecting small traders and local businesses in the country," he said.
The SJM convener said e-retail is "killing" domestic market and government should ban not only foreign players but also local e-retailers which are funded from foreign players.
The 'Make in India' campaign is also viewed skeptically by the SJM, which feels the focus should be on 'Made by India' keeping in mind the nation's sustainable development.
The Manch is also not in favour of increasing FDI in Insurance sector, a reform being strongly pushed by the government to rev up the country's economy and attract foreign investment.
The Manch has also been in the forefront of opposing the Bt-Brinjal trials in the country and have met Environment Minister Prakash Javadekar on the issue.