New Delhi: FDI in retail will benefit both consumers and farmers, and would help in creating more employment opportunities in the country, industry said on Sunday.
"FDI in retail will benefit consumers as well as farm community. We would able to see large investments coming in which in turn lead to large number of jobs in retail sector," CII Director General Chandrajit Banerjee said.
FICCI President R V Kanoria said, "FDI in retail would create agricultural linkages and help in reducing agricultural wastage."
The Congress on Sunday gave clear signals that the UPA government will go ahead with implementing FDI in retail.
The Congress bigwigs including party chief Sonia Gandhi, Prime Minister Manmohan Singh and Rahul Gandhi utilised a well-attended party rally, where party chief ministers and other leaders were present, to convey the message that the party was on board on economic reforms and the recent fuel price hike notwithstanding the strident attack from the opposition.
ASSOCHAM said that entry of global chains into the retail sector will help the farmers without compromise in interest of the neighbourhood kirana store.
"The concerns over the displacement of jobs in the informal kirana sector are misplaced because the small trade will integrate with modern supply chain once the FDI in retail materialise," ASSOCHAM President R N Dhoot said.
However, Confederation of All India Traders (CAIT) called for a open debate on the matter.
"We would definitely like to have open dialogue on this issue and let the country decide whether FDI in retail is in interest of the country or it would prove much deterimental to the interest of the country," CAIT Secretary General Praveen Khandelwal said.
He said that CAIT has made enough research on the issue and is convinced with documents available with it that FDI in retail will be deterimental to the interest of not only the traders but farmers, hawkers and small industry also.
First Published: Sunday, November 4, 2012, 17:36