"Multinational companies like Wal Mart, Carrefour are eyeing the retail sector in the country. We are totally opposed to FDI in retail," Joshi told reporters during an interactive session at the Merchant's Chamber of commerce here on "Roadmap for the growth of Indian industry".
Asked whether his party was for allowing Indian companies like Reliance in the retail sector, Joshi said that big capital was not needed in retail.
"If you need some sort of organised retail there should be some well drafted regulations for them," he said. Joshi, also the chairman of the Parliamentary Standing Committee on Commerce, said that the committee was studying rules and regulations for big capital coming to this sector.
The union commerce secretary has been asked to be present at the committee meeting to discuss the issue, he said.
On whether the BJP would ban FDI and big capital coming into retail if it came to power in the next Lok Sabha election, he retorted, "it is not a question of BJP coming to power."
Questioning why should the age-old low capital system of Indian retail be destroyed, Joshi said, "if necessary, some rules can be framed for them from the health point of view".
