Ranchi: Opposing the Government move to open up "branded and dedicated retail segment" for foreign brands, BJP (Bharatiya Janata Party) today (Nov 26, 2004) described it as an "ill advised move and a disastrous negotiating strategy at the WTO (World Trade Organisation)."

In a statement at the conclusion of the three-day national executive in Ranchi, the party said, "The opening of retail to foreign brands will adversely affect domestic retail traders. This is a first but a sure step towards a total opening of the retail sector."

It said the Indian retail trade has just begun to grow and the Indian purchasing power is the target of multinational companies.

"The Indian retail trader has been gradually expanding to benefit from this purchasing power. Expansion of domestic trade has an impact on the growing manufacturing sector, which is increasingly becoming price competitive."

"Any unilateral concession by India in the retail trade would adversely affect our trade negotiating strategy. This would be a disastrous strategy for multilateral trade negotiations," BJP said.