Patna: Asserting that Foreign Direct Investment in multi-brand retail would not be allowed in the state Bihar Chief Minister Nitish Kumar said the Centre has ignored ground realities in taking this decision.

Urging the Central government to review its decision on FDI policy, he said, “The FDI in retail sector will not help the country because it will create unemployment and will badly hit small local retailers.”

After paying a two-day visit to Arwal, the Chief Minister was interacting with mediapersons here on Wednesday.

Like SEZ was not implemented in Bihar, FDI will also be not introduced in the state’s retail sector, he said, adding "I was proved right as SEZ experiment failed later."

Questioning the sensibility of the Centre, Nitish said, “In what way will it create employment opportunities? People who are doing a business with an investment of Rs 4000-Rs 5000, how will they survive?”

Further he added, “Our party is completely opposed to the move. In the high level meeting on Tuesday it was observed that even in the Central government, only two parties have given their consent.”

JPN/Bureau