Mamatha Banarjee who had recently relented allowing the UPA to go ahead with the FDI in aviation had yet again become reticent on the issue. She had issued a 72 hour deadline to roll back the new FDI policy that allowed more than 50% of the Foreign Direct Investments in multi-brand retails and 100% in single brand retail.

Trinamool Congress's general secretary said, “The TMC is opposed to FDI in retail sector. There is no doubt that we are opposing the decision. TMC was not consulted before be it on price hike or FDI in multi-brand retail.”

Trinamool MP, Kunal Ghosh spoke to a noted national news agency and said that the TMC was not threatening the UPA government but instead they were fighting for the poor. “Mamata Banerjee is ready to take any strong decision. We are deeply shocked and offended” he said, expressing his shock.

In what was considered a much needed reform Commerce Minister Anand Sharma on Friday mentioned that the norms for the FDI were relaxed in retail sector and according to the reviewed norms the upto 51% FDI in multi-brand retail and 100% FDI in single brand retail were allowed.

He also mentioned that the implementation was subject to the interest of the states and states such as Andhra Pradesh, Assam, Haryana, Delhi, Rajasthan, Manipur, Jammu and Kashmir were in favor of FDI. He mentioned that modern technology is necessary. “Remunerative pricing, sourcing is needed," Sharma added.

(AW- Anil)