Wednesday, October 19 2005 14:50 Hrs (IST) - World Time -

Chennai: The United Progressive Alliance (UPA) Government at the Center will last its full term of five years as there is no other alternative to it now, Communist Party of India (CPI), which is supporting it from outside, said today (Oct 19, 2005).

"The UPA Government will last its full term. It will continue in office as there is no other alternative now", CPI General Secretary A B Bardhan said here today.

Coming down heavily on the moves by the UPA Government to allow FDI in retail trade, he said his party would oppose it 'tooth and nail' as it would render millions of Indians jobless.

"Ninety five per cent of the retail trade is in the unorganized sector is family oriented," he said.

"'The Center is itching to allow Foreign Direct Investment (FDI) in retail trade. The Left parties had already submitted a note to the Prime Minister Dr Manmohan Singh opposing the move", he said.

He said a decision on the matter should be taken immediately as the next round of WTO talks at Hongkong were to be held in November, in which service sector would also come up for discussion.

He disputed the claim put forth by the advocates of FDI in retail trade that prices would be cheaper. It might be there for the first one year, but once the monopoly was established, the multinationals would dictate the market and fix the price, he said.

Bardhan said it was sorry to note that the UPA Government was continuing the same foreign policy of its predecessor, which had given up the idea of helping the developing nations, the basic theory of Indian foreign policy.

"We think that our interests are safe with the developed nations, but it is not true", he said.

Bardhan India voted against Iran at International Atomic Energy Commission meeting under pressure from United States.

"It was stated that then only the US would reciprocate and help India's nuclear programmes," he said.

India should reverse its decision during the next round of meeting, expected to be held in November, he said adding that the Left parties had already conveyed their demand to the Prime Minister.

He said the Left parties would organize a seminar on the country's foreign policy at New Delhi on October 28, in which former foreign secretaries, retired supreme court judges and retired commerce secretaries would express their views.

It would followed by a national level convention on the next day. Samajwadi party and the Marumalarchi Dravida Munnetra Khazhagam (MDMK) had also supported the Left parties on this, he said.