FDI in retail should benefit farmers: Meera Shankar

Last Updated: Sunday, October 07, 2012, 15:05

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Tags: FDI in retail, Meera Shankar, US

Mumbai: Ruling out the possibility of "flooding" of investment in the wake of nod to FDI in retail, former Indian Ambassador to the United States Meera Shankar has said it would be desirable if it benefits the farmers.

"I don't see flooding of investment in multi-brand retail," Shankar said, in a lecture on 'Role of US in Asia-Pacific', organised by the Observer Research Foundation here last week.

"It (FDI) might be desirable....In retail if it benefits the farmers," Shankar added.

However, Shankar, who served in the United States from 2009 to 2011, said FDI was not successful in sectors like vegetables.

PTI

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First Published: Sunday, October 07, 2012, 14:05

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Anonymous - India
FDI will not benefit the farmers. I am not against FDI, but this baseless theory that Foreign Companies will help the farmers more than Domestic Companies is laughable. Companies like WalMart are known to be aggressive, and they will give farmers exactly what they are getting now - Nothing. Issue should be: The Lacking Laws that enable Domestic and Foreign Companies alike to exploit farmers.