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UP will not implement FDI in retail: Akhilesh

     Uttar Pradesh Chief Minister and Samajwadi Party (SP) leader Akhilesh Yadav on Saturday said his government would never have the Foreign Direct Investment (FDI) in retail in the state. "We will not allow any foreign companies to come to our state," Akhilesh told media here. Earlier in a statement, Prime Minister Dr. Manmohan Singh said that the Cabinet has taken many decisions to bolster economic growth and make India a more attractive destination for foreign investment. " I believe that these steps will help strengthen our growth process and generate employment in these difficult times. I urge all segments of public opinion to support the steps we have taken in national interest," he added. The Union Cabinet on Friday decided to operationalise 51 percent FDI in multi-brand retail, but left it to the state governments to allow setting up of such stores. The government had in November last year approved 51 percent FDI in multi-brand. This was, however, put on hold due to political opposition, including from UPA constituent Trinamool Congress.

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