BJP spokesperson Murli Monohar Joshi said that there is no need for foreign direct investment (FDI) in the retail sector and the big Indian retail houses should not be given a free hand to operate in a market that employs over 70 million people. He was addressing the Merchants Chamber of Commerce on "Roadmap for the Growth of Indian Industry" on Monday.

"We would come up with laws to restrict the domestic big capitals in retail industry. Moreover, there should not be any FDI in the retail sector," he said.

Joshi, a Rajya Sabha member and the chairman of the Parliamentary Standing Committee on Commerce, said the committee is preparing a report on retail business and would meet the Union commerce secretary on Wednesday to discuss the recommendations.

"There is need for well drafted regulations even for domestic business. There should be a clear policy regarding the size, parking area, the place where malls should be located," said Joshi.

He added, "Big retailers like Wal-Mart say that retail provides jobs. What kind of jobs? Only people who are good in English and computer will get the jobs."