Addressing a press conference here, he said the party opposed FDI in the retail sector as it was an "anti-people" and "anti-farmer" policy of the UPA Government.
The Left could play a decisive role in mobilising democratic forces against the neon-liberal policies of the ruling Congress and also BJP, the CPM Politburo member said.
"India is facing an unprecedented crisis. The UPA Government has failed to control prices. Unemployment is causing social unrest across the country. Corruption has become rampant and a series of scams unearthed by civil society groups had exposed leaders of both Congress and BJP."
This, Pillai said, had triggered apprehensions of political instability. "As a political force untainted by corruption, the Left parties alone can offer an alternative to Congress and BJP. Intervention by the Left has become a historic necessity."
"Allowing FDI in banking, insurance sector and retail will only attract companies that have failed elsewhere, to loot the savings of the common man in India," he said.
