The Hindu Business Line : Cong for safeguards on FDI in retail

The Congress today made it clear that the party President, Ms Sonia Gandhi's letter to the Government cautioning against the impact of foreign direct investment (FDI) in retail was a middle path and not an extreme position on the issue. The Congress spokesman, Mr Abhisekh Manu Singvhi, told reporters here today that Ms Gandhi's letter should be seen as a way for providing for safeguards and the party was not in favour of any "extreme positions". Ms Gandhi had written to the Prime Minister, Mr Manmohan Singh, to examine the impact of FDI on people who run small operations before any decision is taken.

The letter "should not be seen as two extremes — of banning FDI or allowing FDI without any safeguards," Mr Singhvi said.

Replying to questions on Ms Gandhi advising caution on FDI in the retail sector in the context of Bharti-Wal-Mart joint venture, he said the Congress was keen on protecting the interest of the common man and was for a middle path with regulatory mechanisms.

More Stories on : Retailing | Foreign Direct Investment | Politics

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Tibre expanding product portfolio

Users will create this music video

FDI in retail: Panel to study impact on rural economy

Future Group signs up Sachin

Zenotech ties up with Ranbaxy for EU market

Cong for safeguards on FDI in retail

Dabur set to regionalise brands

Perfetti readies Uttaranchal plant to hike capacity

GSK Consumer eyeing acquisitions in India

Cartoon on Reliance Mobile

Tamilnad Mercantile Bank offers new product

LG's ultra slim TV

Green drive