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Friday, 13 January 2012 |
FDI in multi-brand retail is definitely on government’s
agenda and it is planning to implement it by making some changes to the policy so that it gets a political consensus next time. Once the state elections are over, the revised proposal would be put forth. Assembly elections are scheduled to be held in five states of Uttar Pradesh, Punjab, Uttarakhand, Goa and Manipur — between January 30 and March 3, 2012.
R Gopalan, Economic Affairs Secretary says, the need to improve the supply response to meet higher levels of effective demand in the economy could be possible with multi-brand retail FDI. And once the proposal to allow 51 per cent FDI in multi-brand retail is implemented, global giants like Wal-Mart, Carrefour and Tesco could invest in the sector, bringing efficiencies in the supply chain and reducing wastage through better storage facilities.
The buzz is DIPP has already started consultations with stakeholders on multi-brand retail FDI and the consumer affairs department is also trying to get all consumer organisations on board. Analysts say that foreign investment in multi-brand retail would lead to increased transfer of technology, enhanced supply chain efficiencies, create thousands of new jobs and lower inflation. Besides, access to capital would help organised retailers lower debt on their books and prepare for future growth.
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