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Speaking at a seminar on Foreign Direct Investment (FDI) organised by Federation of Indian Chambers of Commerce in Calcutta on 23.06.99, Chittabrata Majumder, Secretary Centre of Trade Unions (CITU), opposed the move to change the labour laws of the country under the cover of globalisation and FDI with the ulterior motive to deprive the worker of his right to bargain. In a capitalist system also, he pointed out, slavery is not being brought back in the system of "hire" and "fire" to enhance investment and production. ILO within its cum limits tried to assert the basic trade union rights of the workers in the world and India cannot be an exception only because Foreign Investments are necessary to supplement the domestic investments. FDI in developing country like India should be encouraged in areas where technologically based advantages can be obtained as a step to boost self reliance. Majumder also cautioned against the regional imbalance likely to be created in the present system of FDI clearances. This aspect has to be taken care of to arrest social unrest formented through such imbalance as has been seen in North Eastern States of the country.