The Cabinet approved 100 percent Foreign Direct Investment (FDI) in single-brand retail through the automatic route. Earlier, foreign retailers looking to invest more than 49 percent required the government’s nod.
Soon after the announcement on Wednesday, 10 January, Twitter users were quick to point out how the ruling NDA government opposed the move when the UPA-II was in power.
In 2012, BJP had staunchly opposed the Congress-led UPA government's decision to allow FDI in multibrand retail, and had said that its introduction will not be in favour of the consumer, farmer, trader, manufacturer and the country.
When Narendra Modi was the Chief Minister of Gujarat, he had tweeted in 2012 saying, "Congress is giving nation to foreigners. Most parties opposed FDI, but due to sword of CBI, some didn't vote & Cong won through back door."
In another tweet, he had accused the then PM Manmohan Singh of harming the interests of the shopkeepers and the manufacturing sector.
Finance Minister Arun Jaitley had said in March 2013, “Will oppose FDI till my last breath.”
Opposition leaders were quick to dig out these tweets to expose BJP's "duplicity."
While most of the twitterati were busy slamming the BJP, some also found humour in the madness.
The Centre on Wednesday also allowed single-brand retailers to set off the value of goods sourced from India for their global operations against the 30 percent mandatory sourcing requirement for India operations in the first five years, according to a press statement. Thereafter, they will be required to meet the 30 percent local sourcing norms.
(We Indians have much to talk about these days. But what would you tell India if you had the chance? Pick up the phone and write or record your Letter To India. Don’t be silent, tell her how you feel. Mail us your letter at lettertoindia@thequint.com. We’ll make sure India gets your message.)
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)