FDI in multi-brand retail will benefit farmers, says Bhupinder Singh Hooda
GURGAON: Haryana Chief Minister Bhupinder Singh Hooda today said he was in favour of FDI in multi-brand retail from the very beginning.
"FDI in retail will help farmers. They will get right prices of their produce because companies will purchase directly from them," Hooda told reporters here after the inauguration of Rapid Metro's trial run.
Consumers would also get quality products at comparatively cheaper rates, he said.
"India is second largest producer of vegetables and fruits in the world. During exports, about 30 to 40 per cent fruits and vegetables perish. Once FDI enters in retail, number of cold chains will increase and this will help in avoiding wastage," he said.
Moreover, the role of middlemen would be over and thus farmers would get right price of their produce.
FDI in retail: Traders in Kerala down shutters
THIRUVANANTHAPURAM: Trading activities came to a virtual halt across Kerala today as shop owners downed shutters to protest against the policies of the Central and state governments, including the decision to allow FDI in multi-brand retail.
Early reports from different centres said the response to the shut-down call given by traders' unions like Kerala Vyapari Vyavasayi Samiti (KVVES) has been total, especially in urban areas.
Leaders of the traders bodies wanted the Congress-led UDF Government in the state to come out in clear terms that FDI would not be permitted in the retail sector in the state. "Though Chief Minister Oommen Chandy has said that FDI in retail will not be allowed in Kerala, the government is yet to come out with an unambiguous policy statement on the issue," a KVVES leader said.
They said KVVES was opposed to FDI in retail anywhere in the country as it would wipe out small and medium retailers in the country.
FDI in single-brand retail fails to gain momentum: Knight Frank report
Foreign investment in single-brand retail has failed to gain momentum despite hike in FDI limit to 100 per cent from 51 per cent earlier, property consultantKnight Frank said in a report.
The share of foreign investment in single-brand retail out of the total FDI inflow into the country has declined from 0.03 per cent in December 2011 to 0.02 per cent in June 2012, the consultant said.
It noted that the primary reason which put down the interest of foreign players to conditions on sourcing from small scale industry. However, it said that there would be improvement in the FDI inflow in single-brand retail over the next 6-12 months as conditions on ownership and sourcing has been eased. "Single brand retail was opened to foreign investment in 2006 with a cap of 51 per cent. This cap constrained foreign retailers desirous of entering India albeit with a full control. The limit, subject to fulfillment of certain conditions, was hiked to 100 per cent in January this year," Knight Frank said.
The report said that the recent reforms measures announced by the government would have a positive impact on the realty sector, particularly commercial segment.
"The entry of foreign retailers would not just address the high vacancy in retail real estate but also help in the growth of such developments in future," it added.
FDI in retail, aviation & broadcasting: 51% Indians think recent big-bang reforms will boost growth, says Ipsos MUMBAI: Majority (51%) of Indians think that the recent big-bang reform measures like FDI in Retail, Aviation and Broadcasting by the UPA government will help boosts economic growth, according to the 'Mood of the Nation Survey' conducted by global research firm Ipsos.
Although 49 percent people felt that recent reform measures by the union government will not help much. A large section of respondents from higher income group felt that the economic reforms will help boost the economy, whereas lower middle class group are pessimistic. Interestingly, citizens...
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