AP likely to get FDI worth Rs 500 cr in retail business: Reddy

Last Updated: Thursday, December 6, 2012 - 00:13

Hyderabad: Andhra Pradesh Chief Minister N Kiran Kumar Reddy tonight hailed the pro-FDI vote in Lok Sabha and said his state is expected to secure foreign investment worth Rs 500 crore in retail business.

"The state is expected to secure foreign direct investment to the tune of Rs 500 crore in retail business. FDI in retail will help consumers and farmers to a great extent. Farmers are sure to get remunerative prices for their produce while consumers will get quality products at reasonable prices," he said.

The Chief Minister was talking to newspersons after winding up his three-day `Indiramma Baata` mass contact programme in neighbouring Ranga Reddy district.

"The victory is a reflection of the continued faith of people in the UPA government. The government went ahead with the decision (on FDI) with confidence as it was sure the move would help consumers and producers."

Meanwhile, Kiran said a decision on who should represent Congress at the all-party meeting on Telangana would be taken after discussion with the party high command.

The Centre has on December 28 convened a meeting of political parties of Andhra Pradesh in Delhi on the Telangana statehood issue.

PTI




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