Companies

FDI in retail ‘distinct and different’: Sharma

PTI Chennai | Updated on March 12, 2018

Unfazed by a storm of protests over allowing 51 per cent FDI in multi—brand retail, the Centre on Saturday said the new policy is “distinct and different” and interest of small retailers has been taken into consideration.

“The FDI policy is distinct and different and has the Indian signature,” the Commerce and Industry Minister Mr Anand Sharma told reporters here.

The interest and sensitivities of small retailers have been taken into consideration and “they are part of the policy embrace”, he said when asked whether the government would take steps to allay fears over the measure, which has drawn sharp reactions from the political parties and retailers.

Mr Sharma said the political parties would “certainly realise” the benefits of the government’s bold move, and added that such opposition was common.

The government came under a sharp attack inside and outside Parliament over its decision to open the multibrand retail to foreign investment. The criticism came not only from the Opposition but also from -Trinamool Congress, a key UPA ally at the Centre.

Published on November 26, 2011

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